The total reported economic losses caused by weather and climate-related extremes in the EEA member countries in the period 2010-2015 were around €66.5 billion, according to new figures released by the European Environment Agency.

The total reported economic losses over the period 1980-2015 were €433 billion (in 2015 € values).

According to data from NatCatService from Munich Re on natural disasters between 1980 and 2015 in the European Environment Agency (EEA) member countries, weather and climate-related extremes accounted for 92% of total reported disaster events and around 83% of the total losses. Around 35% of the total losses were insured  and there were 89 873 fatalities registered in the period.

Most of the fatalities were caused by heat waves - highly influenced by the heatwave of 2003, where around 70 000 fatalities were reported as excess mortality

The average economic loss has varied between €7.5 billion per year in the period 1980-1989, €13.5 billion in the period 1990-1999, and €14.3 billion in the period 2000-2009. In the period 2010 to 2015, the average annual loss accounted to around €13.3 billion. 

Weather and climate extremes cost UK €57.8bn between 1980-2015

However, the distribution of weather and climate (excluding geophysical events) related losses among the thirty three EEA member countries is uneven. The highest overall economic losses in absolute terms were registered in Germany, Italy and United Kingdom.

Losses in the United Kingdom came to €57.8 billion, of which 70% (€40.2 billion) were covered by insurance. The events also led to 3,520 UK fatalities.

According to the EEA, observed variations in reported economic loss over time are difficult to interpret since a large share of the total losses has been caused by a small number of events. Specifically, more than 70 % of the economic losses were caused by only 3 % of all registered events.

The largest 34 events caused about half of the recorded losses. The costliest climate extremes were the 2002 flood in Central Europe (almost € 20 billion), followed by the 2003 drought and heatwave (€ 15 billion) and 1999 winter storm, Lothar (€ 15 billion).

One important question is to what extent the observed increase in overall losses during recent decades is attributable to changing climatic conditions rather than other factors. According to AR5 of the IPCC , increasing exposure of people and economic assets has been the major cause of long-term increases in economic losses from weather and climate-related disasters.

The largest 34 events caused about half of the recorded economic loss. The costliest disaster event was the earthquake in Southern Italy in 1980 (€ 28 billion) followed by the 2002 flood in Central Europe (€ 20 billion) and the 1999 earthquake in Turkey (€ 16 billion). The fourth and fifth costliest disasters are the 2003 drought and heatwave (€ 15 billion) and the 1999 winter storm, Lothar (€ 15 billion).

Climate change will increase the likelihood of systemic failures across European countries

According to the EEA, available studies for economic losses from river floods and storms in Europe suggest that the observed increases in losses are primarily due to increases in populations, economic wealth and developments in hazard-prone areas, but the observed increase in heavy precipitation in parts of Europe may have also played a role. There is evidence that improved flood protection and prevention contributed to reducing losses over time in some cases .

Currently there is no mechanism in place for reporting of damages from weather and weather and climate-related events by EU member states to the European Commission or the EEA. However activities are underway to improve national databases on disaster losses.

Looking ahead, the EEA says that the Fifth Assessment Report (AR5) of the United Nations Intergovernmental Panel on Climate Change concludes that high temperature extremes, heavy precipitation events and droughts will markedly increase in all or most world regions, including in Europe. Furthermore, large parts of Europe will face an increasing drought risk

There is medium confidence in the fact that climate change will increase the likelihood of systemic failures across European countries as a result of extreme climate events affecting multiple sectors

The Agency says the increasing extremes will presumably lead to greater losses. However, the future cost of climate-related hazards in Europe will depend on several factors, including the resilience and vulnerability of society, which are variable across hazards and regions.

Click here to access the European Environment Agency indicators