{"id":470229,"date":"2026-11-05T09:27:06","date_gmt":"2026-11-05T08:27:06","guid":{"rendered":"https:\/\/www.eunews.it\/2026\/11\/05\/lagarde-i-costi-del-cambiamento-climatico-sono-in-aumento\/"},"modified":"2026-11-05T10:44:23","modified_gmt":"2026-11-05T09:44:23","slug":"lagarde-the-costs-of-climate-change-are-rising","status":"publish","type":"post","link":"https:\/\/www.eunews.it\/en\/2026\/11\/05\/lagarde-the-costs-of-climate-change-are-rising\/","title":{"rendered":"Lagarde: “The costs of climate change are rising”"},"content":{"rendered":"

Brussels \u2013 The scorching summer of 2026<\/a> is just the beginning: \u201cThis summer\u2019s heatwaves, droughts and wildfires were a warning.\u201d The President of the European Central Bank, Christine Lagarde<\/strong>, in a post she wrote for the ECB blog<\/a>, reflects on the season that just ended, urging governments to tackle the problem. Because, she stresses, while the economic impact of these extreme weather events \u201chas so far been limited, but the costs of climate change are rising, and future shocks could be harder to absorb<\/strong>.\u201d <\/p>\n

The worst mistake one can make is to focus solely on the present: \u201cThe near-term picture understates the risks as the climate keeps warming,\u201d Lagarde warned, recalling that \u201cthe euro area\u2019s exposure is broad: nearly three quarters of euro area businesses depend heavily on at least one service provided by nature<\/strong>, with water-related services the most exposed.\u201d It follows, therefore, that \u201cclimate-related shocks can leave lasting scars on affected regions, increasing economic volatility and amplifying the effects of other shocks.\u201d <\/p>\n

Lagarde attempts to prevent another mistake from being made \u2013 that of underestimating natural challenges: \u201cHeat and drought are not the only threats,\u201d she points out. \u201cNearly 12 per cent of euro area economic output is exposed to risks linked to insufficient flood protection.<\/strong>\u201d<\/p>\n

A change of course is therefore needed: \u201cAs extreme weather becomes a regular feature of our summers, Europe must proactively prepare and be better protected against its financial fallout.<\/strong>\u201d \u200bThis means, first and foremost, ensuring adequate insurance cover, given that, to date, \u201conly a quarter of catastrophe losses in Europe have been covered by insurance,\u201d resulting in the costs of climate-related damage falling entirely on the shoulders of households and businesses. In short, both supply and demand \u2013 production and consumption \u2013 come to a standstill, and this becomes a problem for the economy. <\/p>\n

But it also means focusing on energy production from renewable sources and the construction of grid infrastructure. In this regard, Lagarde suggests, \u201cas building out the grid will take time, Europe should make it easier for firms to supply themselves in the meantime.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The President of the European Central Bank, Christine Lagarde, warns of the trend and urges governments to take decisive action<\/p>\n","protected":false},"author":494,"featured_media":276563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"1","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"1","show_comment_section":"1","number_popup_post":"1","show_author_box":"0","show_post_related":"1","show_inline_post_related":"0"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[35503,25705],"tags":[26112,26152,26050,26950,26151,25828],"class_list":["post-470229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ambiente","category-business","tag-bce-en","tag-christine-lagarde-en","tag-climate-en","tag-drought-en","tag-bank-central-en-en","tag-eurozone-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/470229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/users\/494"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/comments?post=470229"}],"version-history":[{"count":1,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/470229\/revisions"}],"predecessor-version":[{"id":470230,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/posts\/470229\/revisions\/470230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media\/276563"}],"wp:attachment":[{"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/media?parent=470229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/categories?post=470229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eunews.it\/en\/wp-json\/wp\/v2\/tags?post=470229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}