Ambroise Fayolle
Extreme weather and climate-related events caused €822 billion in economic losses across the European Union between 1980 and 2024, with a quarter of the losses occurring just in the last five years. The consequences for Europe’s competitiveness and economic security are clear—and so is the appropriate response.
LUXEMBOURG—There is no choice between investing in resilience and investing in competitiveness. They are increasingly one and the same. Climate risk has become economic risk and a matter of economic security.