Climate
Extreme Heat from Climate Change Already Costs the Netherlands Billions of Euros
A new report by insurance company Allianz estimates that extreme heat during the summer months of June, July, and August cost the Dutch economy 9.2 billion euros, placing the Netherlands among the five most affected European economies. Johan Geeroms, director of risk assessment at Allianz, explains that productivity drops by approximately 3 percent per degree between 30 and 35 degrees Celsius, falling to 50 percent efficiency at 39 degrees. High humidity significantly impacts labor productivity, particularly in outdoor sectors like construction and agriculture, where companies often shorten working hours to ensure safety. Additionally, low water levels on rivers like the Rhine disrupt transport, requiring more vessels and increasing costs. The report highlights that while Southern European economies are better adapted, Dutch businesses need to implement cooling measures, adjust working times, and build financial buffers, with government support recommended for small enterprises.
Ozetta summarises; the reporting is the newsroom's