Climate
Economy Hit by Heat: 'Other Countries Are Better Prepared'
According to credit insurer Allianz Trade, the Netherlands' economy suffered an estimated 9.2 billion euros in losses last summer due to exceptional heat and drought, primarily caused by reduced productivity. While Italy, Germany, France, and Belgium experienced higher absolute losses, Johan Geeroms of Allianz noted that these smaller nations were disproportionately affected because they are less prepared for climate change compared to Southern European countries with established adaptation measures like irrigation systems and midday breaks. Low water levels in the Rhine further hindered logistics to the German Ruhr area, increasing transport costs and delays. Geeroms emphasized that the Netherlands lags in legislation regarding flexible working hours and factory insulation, urging greater investment in climate adaptation to mitigate future economic damage.
Ozetta summarises; the reporting is the newsroom's