EU fuelling economic ‘doom loop’ by weakening climate rules during record heatwave, Dutch bank says | Buobe
EU fuelling economic ‘doom loop’ by weakening climate rules during record heatwave, Dutch bank says
Buobe IA context · why it matters
The Dutch bank estimates €180bn damage from this summer's heatwaves — This could lead to significant economic contraction, affecting growth forecasts.
Brussels is weakening EU carbon pricing rules — This may undermine long-term climate efforts and increase vulnerability to future extreme weather events.
A Dutch bank has warned that Europe risks falling into a “doom loop” in which climate damage slows economic growth, prompting governments to weaken climate policy, and so leaving the continent even more exposed to future heatwaves.
