Weather- and climate-related extremes caused economic losses of assets estimated at EUR 822 billion during 1980 – 2024 in the European Union, with over EUR 208 billion (25%) between 2021 and 2024. Analysing trends in economic losses is challenging, primarily due to large annual variability. Statistical analyses revealed that economic losses increase over time and the last four years are all in the top five years of the highest annual economic losses since 1980. As severe weather- and climate-related extreme events are expected to intensify further, associated economic losses will likely continue to increase.

Climate-related hazards, such as temperature extremes, heavy precipitation and droughts, pose risks to human health and ecosystems and can lead to substantial economic losses. These losses equally create pressures on public finances.