Climate impacts in Europe: the JRC PESETA II project

The objective of the JRC PESETA II project is to gain insights into the sectoral and regional patterns of climate change impacts in Europe by the end of this century. The study uses a large set of climate model runs and impact categories (ten categories: agriculture, energy, river floods, droughts, forest fires, transport infrastructure, coasts, tourism, habitat suitability of forest tree species and human health). The project integrates biophysical direct climate impacts (from eight of the impact categories) into a macroeconomic economic model, which enables the comparison of the different impacts based on common metrics (household welfare and economic activity). If the 2080s climate would happen today and without public adaptation, the EU household welfare losses would amount to around €190 billion, almost 2% of EU GDP. The geographical distribution of the climate damages is very asymmetric with a clear bias towards the southern European regions. More than half of the overall EU damages are estimated to be due to additional premature mortality (€120 billion). Moving to a 2°C world would reduce climate damages by €60 billion, to €120 billion (1.2% of GDP).