Europe counts financial cost of record-breaking heatpublished at 12:07 BST
Nick Beake
Europe correspondent
Image source, Getty ImagesTemperatures have rocketed in European cities like Paris over the summer
Governments across Europe are highlighting the economic damage this summer’s extreme heat is causing.
France’s environment minister is among the latest politicians to offer an estimate of the potential financial hit.
Monique Barbut warned that data from the country’s national statistics agency, INSEE, suggests the recent heatwaves could rack up €10bn to €15bn (£12.8bn) in direct and indirect costs.
This week the EU’s climate monitoring service, Copernicus, announced that western Europe had experienced its hottest June-to-July period on record.
Economists say Europe's record heat and drought in 2026 will have a significant ongoing impact, pointing to the disruption to power supply, shipping and the construction market.
Two of Europe’s key waterways, the Rhine and the Danube rivers, are suffering low water levels which is severely limiting traffic.
The continent’s agricultural sector has also taken a noticeable hit.
Italy’s largest agricultural trade association, Coldiretti, says climate-related damage - such as hail, drought and wildfires could exceed €3bn ($2.6bn).
The Dutch bank Triodos believes the extreme heat and its consequences could wipe out much of the projected economic growth for the EU.
The European Commission had forecast growth of 1.1%, while the IMF expected the euro area to grow by around 0.9%.


















