Heatwave already hitting Europeans' wallets

In Germany, damage from heatwaves by 2030 is estimated at 112 billion euros.

Each additional degree above 30°C reduces labor productivity by an average of 3%, while electricity bills rise by 1.2% due to air conditioning.

Stanford economist Adrian Bilal calculated: +1°C in global temperature = 12% less global GDP within 6 years.

By the end of the century, consumption could drop by 50% with a +2°C increase. Meanwhile, we could have been twice as rich if not for climate change.

By 2030, the world will lose 2.2% of working hours — equivalent to 80 million jobs and $2.4 trillion in damages. South Asia and West Africa will be hit hardest.

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