EC concludes dialogue on climate change resilience

Over the past three decades, the European Union has taken many initiatives to reduce the effects of climate change, but unfortunately, despite this, they are increasingly being felt. In order to close environmental gaps and increase resilience in the EU, the European Commission in November 2021. initiated a dialogue on the topic. Now, as a summary of the dialogue held, a final report has been compiled that collects the conclusions of the discussions and offers suggestions for actions and good practices to foster climate resilience.

Why is the dialogue on climate change resilience so important?

Europe is the fastest warming continent and has been since the 1980s. This phenomenon is occurring at about twice the rate of the rest of the world. The frequency, duration and severity of weather events, as well as the long-term effects of climate change, are causing increasing damage and economic losses that affect people, businesses, economies and infrastructure. High temperatures can have a particular impact on human health, as we wrote about in a previous article: When do high temperatures become deadly? According to forecasts, this trend will continue for the next few years.

November 2021. The European Commission launched a dialogue to facilitate an open exchange of information on how to address environmental gaps and increase resilience to climate change in the EU, with a focus on adaptation. Stakeholders, including regulators, consumer organizations and the insurance industry, participated in the dialogue.

The dialogue held on climate resilience provided insights on the need to raise awareness of climate risks, improve assessments of them and facilitate the implementation of measures to reduce them. The report prepared on the basis of the dialogue analyzes the potential of public-private partnerships in insurance and the advantages and disadvantages of solutions based on them. Finally, it describes in detail the main climate-related risks in Europe, including floods, forest fires, heat waves, droughts and storms.

Climate-related threats in Europe

The latest research confirms that average global temperatures continue to rise, between June 2023 and May 2024. there was an increase of 1.63°C compared to pre-industrial average temperatures. The year 2023 has been identified as the warmest on record, and Europe has been identified as the fastest warming continent.

The most significant climate-related threats and hazards in Europe today are floods, forest fires, heat waves, droughts, hail and storms. All have both immediate and long-term effects, and there are links between the various threats and dangers, which are further strengthened as the pace of climate change increases.

Climate change is expected to lead to major disruptions in water availability across Europe due to less predictable precipitation and more intense storms. As a result, greater water shortages can be expected, especially in the southern and southeastern parts of the continent, and an increased risk of flooding across much of the continent. The resulting changes will affect many land and sea regions, as well as the environment and species.

How did the European Commission sum up the climate resilience dialogue?

The European Commission welcomed the report prepared on the basis of the dialogue held. Moreover, as announced, it will consider the solutions presented in the report in its newly-launched term. Climate risks and their impacts are a common challenge, and the competitiveness of Europe’s economy and the well-being of society are highly dependent on the ability to increase resilience to climate change. In the European Commission’s view, building resilience is a shared responsibility, and the report’s findings provide a good overview of what different stakeholder groups can do to achieve it.

Based on, among other things. based on the work of the Climate Resilience Dialogue, the European Commission will convene a temporary study group on climate resilience. Mobilizing Climate Resilience Finance. This group will bring together key industry players and representatives of public and private financial institutions.