Our series mission success stories celebrates the innovative efforts of regions and local authorities across Europe to adapt to climate change. These stories highlight how communities are embracing resilience-building projects that deliver impactful solutions to the challenges posed by climate change. By presenting tangible examples of success, they illustrate the practical benefits and real results of the EU's climate change adaptation mission. (More on climate-adapt.eea.europa.eu)

Climate change is one of the biggest challenges of today, and its consequences are already affecting the global economy. While some governments and companies are taking active measures to reduce emissions and adapt to climate conditions, many are still hesitant. However, the costs of inaction, i.e. of the absence of adaptation measures, may be much higher in the future than the current costs of adaptation. This knowledge is of fundamental importance for economic decision-making, since not only money is at stake, but also stability, security and quality of life around the world.

Economic consequences of climate change and their measurement

Climate change brings various challenges to the economy, which are manifested mainly in the increased frequency of extreme weather events, disruptions in supply chains and the gradual obsolescence of infrastructure. These events can cause extensive damage, with costs increasing dramatically over time. For example, when buildings are no longer adapted to the new temperature standards, their maintenance and repairs become more expensive.

Measuring the economic costs associated with climate change is difficult, because these costs manifest themselves inconspicuously at first and then suddenly. A key economic indicator, GDP (gross domestic product), does not reflect the true costs associated with climate change. GDP only shows production flows and therefore does not take into account the destruction of infrastructure or ecological resources. When natural disasters occur, after a short-term loss of production, investment is made in recovery, which can even artificially increase GDP, although the long-term economic damage is significant. An important step is therefore the efforts of institutions such as the French INSEE, which are trying to create new indicators to better express climate costs.

Long-term costs of inactivity

The costs of inaction can lead to huge economic losses that far exceed investments in adaptation measures. Climate change often has non-linear consequences – that is, once certain threshold points are crossed, drastic changes occur that can cause the collapse of entire industries. One example is ocean acidification and warming, which can threaten the fishing industry. Similarly, climate change could make office work in some cities unbearable within decades due to extreme heat.

Rising insurance rates that insurance companies would have to introduce due to the increase in natural disasters are also a risk. Higher insurance premiums would reduce the purchasing power of households and at the same time increase the cost of public spending financed through taxes or debt. All these factors can cause a slowdown in economic growth.

Adapting to climate change: the path to long-term stability

Economic actors must be aware of the need to adapt to climate change. Education and informing companies about the risks that climate change brings are key. Companies and regions should plan for the long term and develop new models that will be resilient to the changing environment. For example, the automotive industry could focus on innovation and the development of more energy-efficient technologies. The agricultural sector, on the other hand, needs new procedures that will ensure sustainable food production even in more extreme climatic conditions.

However, adaptation is not free – adaptation requires significant investment in infrastructure and technology. For example, France has just launched its third national adaptation plan, which includes consultations with businesses on measures to safeguard their activities in a +4°C warming scenario by the end of the century. This process is costly, but the costs of adaptation measures are still lower than the potential losses in case of inaction.

The role of financial institutions in the fight against climate change

The financial sector plays a vital role in financing sustainable solutions. Banks and investment companies can support green projects while discouraging investments that increase the carbon footprint. However, sustainable finance is complex because not all sectors can adapt easily. Sometimes it is also necessary to support industries that are not yet completely "green", but are working on transforming their activities.

Financial institutions alone cannot reverse climate change. Regulations and stimulating policies by governments are needed to ensure that adaptation processes are supported.

Conclusion

Climate change poses enormous challenges to the economy, which will be reflected in the costs of inaction. In the future, these costs could significantly exceed the funds spent on adaptation measures and sustainable solutions. Companies, governments and individuals alike must take action to minimize the negative consequences of the climate crisis and ensure long-term stability and development. Adaptation is costly, but ignoring the need for change would be much more costly. Spring

The Slovak Environment Agency, in cooperation with the Slovak Ministry of the Environment, launched a platform dedicated to adaptation to climate change. The goal is to use this platform as a communication and information channel. It contains sections for experts, but also for curious citizens, who can find here, for example, infographics or the latest adaptation news. Summary information is available in English

MIP4Adapt has launched a new DIY Stakeholder and Citizen Engagement Manual to support local authorities in increasing citizen and stakeholder engagement in climate change adaptation efforts. The handbook provides a practical guide to engaging citizens and stakeholders in every phase of climate change adaptation planning, from land preparation for adaptation to monitoring and evaluation.

By actively involving communities, regional and local authorities can develop strategies that better reflect local needs and interests. Citizen participation also fosters a sense of responsibility and commitment, making adaptation efforts more sustainable in the long term. When stakeholders engage, they contribute valuable knowledge and resources, creating shared ownership and broad support for climate action. (More on climate-adapt.eea.europa.eu)

Download the guide today

When we look around us, it is not difficult to see the countless ways in which nature contributes to our existence. However, the value of nature goes far beyond what it seems at first glance - it offers solutions with advantages that are often overlooked.

This is the extraordinary revelation of a group of researchers from the University of Oxford. Experts researched the economic implications of natural solutions (NbS) and what they discovered is like finding a pot of gold at the end of a rainbow. (Sanjana Gajbhiye, more at earth.com)

Many cities try to mitigate the extreme heat by planting trees. But the cooling achieved by such programs is debated, as previous analyzes focus on much smaller scales than the city-wide ones planners are working on. To fill this gap, we performed a scaling analysis of cooling efficiency (CE)—the temperature reduction associated with the 1% growing tree canopy (UTC)—to predict citywide CE. The results show that CE increased with increasing spatial scales in a convex power form. The power law was consistently found across multiple cities with different climate contexts and was also robust under different summer weather conditions within the city. Power-law scaling of CE can provide a tool for urban planners to set UTC targets for extreme heat mitigation. (Jia Wang, Weiqi Zhou, Steward TA Pickett , more at pnas.org)

The Commission provided today more than EUR 380 million per 133 new projects throughout Europe as part of the LIFE program for the environment and climate. The allocated amount represents more than half of the total €574 million investment needs for these projects – the rest comes from national, regional and local governments, public-private partnerships, businesses and civil society organisations. (More on ec.europa.eu)

Climate change poses a significant risk to urban areas worldwide, exacerbating existing vulnerabilities and threatening the well-being of millions of people. This proposal outlines a comprehensive plan for the implementation of climate change adaptation strategies aimed at increasing the resilience of cities. By focusing on infrastructure improvements, community engagement and sustainable practices, the initiative will equip cities to better withstand climate impacts such as floods, heat waves and resource scarcity. Through joint efforts with local stakeholders, we aim to create a model for sustainable urban adaptation that can be replicated in other regions. (More on fundsforngos.org)

Seven of the most common forest trees in Europe have been shown to be able to protect their genetic diversity against major changes in environmental conditions. This is despite the fact that their ranges have shrunk and the number of trees has plummeted during ice age cycles. This is according to a study by a European consortium led by the universities of Uppsala and Helsinki, published in Nature Communications (Words: Uppsala University).

"This is very positive from a biodiversity point of view, because these trees are keystone species on which many other species depend," says Pascal Milesi, associate professor of plant ecology and evolution at Uppsala University and first author of the study.

The researchers focused on examining how the genetic diversity of tree species was affected by ice age cycles. The trees survived both warm and cold periods. During the last ice age, about 10,000 years ago, the range of trees was greatly reduced. Scientists therefore thought that genetic diversity would be low. However, it turned out to be just the opposite – the species had a high genetic diversity and was thus resistant to drastic changes in its habitat. (More on envirotecmagazine.com)

In September, the European Commission held a high-level round table on how to manage climate risks and damages, including taking into account vulnerable groups in society. Participants called for bold action on climate resilience and discussed structural changes, applicable tools and financing for the future. The round table provided an opportunity for an exchange of views ahead of the preparation of the European Climate Change Adaptation Plan. (More on climate.ec.europa.eu)

The National Action Plan (NAP) identifies the residential environment as one of seven key areas of focus for climate change adaptation. The main goal in this area is to create a high-quality legislative, institutional, professional and financial environment for systematic and complex actions of local governments in the process of adaptation to climate change in cities and towns.

The NAP focuses on the following key areas of adaptation measures in the residential environment:

• Legislation and planning:
  • Incorporating adaptation into legislation: The current legislation does not sufficiently take into account the issue of adaptation to climate change, which makes it difficult for cities and municipalities to implement the necessary adaptation measures.
  • Integrating climate change into planning documents: Planning documents should contain a comprehensive response to climate change, which requires their climate assessment and the creation of a separate adaptation strategy for each location.
• Methodological and professional support:
  • Creation of methodologies: In Slovakia, there is a lack of formalized methodologies for assessing the vulnerability of settlements, preparing adaptation strategies and evaluating their effectiveness.
  • Introduction of the professional support mechanism: Cities and municipalities often do not have sufficient professional capacity to implement a complex adaptation process. Therefore, it is necessary to create a professional support system that will provide them with the necessary information and expertise.
• Education and awareness:
  • Public administration education: It is important to ensure the training of municipal and state administration workers in the field of adaptation to climate change.
  • Public involvement: Increasing public awareness of the issue of climate change and adaptation is key to the successful implementation of adaptation measures.
• Funding:
  • Securing financial resources: Implementation of adaptation measures requires significant financial resources. It is necessary to ensure their availability from various sources, including the state budget, European funds and private investments.
  • Creation of motivational mechanisms: For municipalities, it is necessary to create motivational mechanisms that will support them in investing in adaptation measures, for example through co-financing from EU funds.

NAP emphasizes that adaptation of settlements to climate change is a complex process that requires cooperation and coordination between the state administration, local government, the business sector, the academic community and the public.

In addition to the mentioned areas, the NAP also focuses on specific adaptation measures in settlements, such as:

• Retention of water in the country and in settlements: Improving water management in order to mitigate the negative impacts of drought and floods.
• Reducing urban overheating: Support for building green and blue infrastructure, adaptation of buildings and public spaces.
• Improving infrastructure resilience: Ensuring the resistance of critical infrastructure (transport, energy, water management) to extreme weather conditions.
• Improving population health protection: Ensuring sufficient awareness of the health risks associated with climate change and the implementation of preventive measures. (Co2AI)

Priorities of financing adaptation measures in the residential environment. The document "Action Plan for the Implementation of the Slovakia's Climate Change Adaptation Strategy" places great emphasis on the adaptation of settlements to climate change and identifies several important funding priorities in this area:

1. Legislative and strategic preparation:

• Funding of audits and analyzes of existing legislation with the aim of identifying obstacles to the implementation of adaptation measures in settlements and proposing the necessary changes.
• Support for incorporating the issue of climate change into spatial plans and other strategic documents of cities and municipalities.
• Creation and updating of methodologies for assessing the vulnerability of settlements to climate change and for the creation of adaptation strategies.

2. Capacity building and professional support:

• Creation of a professional support system for cities and municipalities in the adaptation process, including provision of information, consultations and capacity building.
• Education and training for public administration workers at all levels on the issue of adaptation to climate change.

3. Specific adaptation measures:

• Flood risk mitigation: Investments in flood protection, building elements of green and blue infrastructure in cities with the aim of retaining water in the country.
• Fight against urban overheating: Support for the construction of green infrastructure, adaptation of buildings and public spaces in order to reduce the effect of urban heat islands.
• Ensuring the availability of water resources: Investments in the protection and effective management of water resources, support for water retention measures in settlements.
• Increasing infrastructure resilience: Adaptation of existing and planning of new infrastructure (transport, energy, water management) with regard to climate change.

4. Social inclusion and support of vulnerable groups:

• Identification and support of measures to mitigate the negative impacts of climate change on socially vulnerable groups of the population.

Funding sources:

The document emphasizes the importance multi-source financing adaptation measures in settlements, using a combination of:

• State budget:
• Local government budgets:
• European Structural and Investment Funds (ESIF):
• Common Agricultural Policy (CAP):
• Additional resources (e.g. Environmental Fund, LIFE program, EEA and Norway grants):

It is important to ensure that adaptation to climate change becomes a priority in the allocation of funds from all relevant sources. Resources should be allocated based on clear criteria, with an emphasis on efficiency and sustainability of investments.

The document emphasizes that financing adaptation in the residential environment is a long-term investment that will not only reduce the risks and damages caused by climate change, but also improve the quality of life in cities and towns. (Co2AI)

Half of the world's population currently lives in cities, and this proportion is expected to rise to 70 % by 2050. Due to large populations, a lack of green spaces that can mitigate warming, and an aging infrastructure that is vulnerable to flooding and extreme weather , the world's cities are not prepared for climate change.

Proactive measures are needed to make cities more resilient to climate change and able to protect community health, according to a new report from the Yale School of Public Health (YSPH), Resilient Cities Network and The Rockefeller Foundation. (Andrei Ionescu, more at earth.com)

The relaunched, user-friendly portal contains knowledge, practical advice, interactive tools and a project catalog that can serve as inspiration for climate adaptation in Denmark. It offers customized entry points for three groups of users. In addition to the Danish version, the English portal offers guidelines for foreign visitors and English-speaking residents. The portal is managed by the Danish Environmental Protection Agency in cooperation with several ministries, agencies and organizations. (More on climate-adapt.eea.europa.eu)

SYNERGISE+ is a practical and versatile Excel-based tool designed specifically to assist signatories to the Covenant of Mayors. It aims to support local governments in two critical phases of developing a Sustainable Energy and Climate Action Plan (SECAP): planning and implementation. Whether selecting actions for your SECAP or prioritizing investments within budget constraints, SYNERGISE+ guides cities through a structured and flexible decision-making process.

Although SYNERGISE+ is intended for signatories to the Convention, it is also valuable for other entities such as energy agencies or businesses working on local sustainability projects. The tool allows users to select actions relevant to their specific sector, making it applicable to a wide range of urban and local adaptation and mitigation efforts. (More on eu-mayors.ec.europa.eu)

The EEA report "Tackling the environmental and climate footprint of buildings" assesses the current state of Europe's building stock and explores what is needed to make European buildings more sustainable. Renovating existing buildings using sustainable materials while improving resilience to climate change and working with nature are key. The report also examines what policy measures are needed to achieve this goal by 2050.

More than 30 % of the EU's environmental footprint comes from buildings, making them the sector with the largest environmental impact. Approximately one third of the Union's material consumption goes to the construction industry. The use of buildings represents 42 % of total energy consumption and 35 % of greenhouse gas emissions. The decommissioning of buildings leads to the largest mass flow of waste in the EU. Although the recycling rate of demolition waste is high, it mainly results in low value, the EEA report says. (More on eea.europa.eu)

Recently, the agro-food industry has increasingly recognized its ecological responsibility. The sector is estimated to be responsible for 19 % to 29 % of global greenhouse gas emissions and irrigation (more…)

During the last two years, a group of stakeholders established at the initiative of the European Commission has been meeting as part of the dialogue on climate resilience. It aimed to discuss ways to reduce the climate protection gap – the gap between economic losses and insurance losses from the materialization of climate-related risks – and increase the resilience of economies and societies to the effects of climate change.

The dialogue provided a safe space for an open exchange of views between stakeholders including public authorities, regulators, consumer organizations and the insurance industry on ways to address this climate protection gap and increase climate resilience in the EU with a focus on climate change adaptation.

The EU Covenant of Mayors has been an active participant in this dialogue and has ensured that the perspectives, challenges, best practices and experiences of local authorities are taken into account in the discussions and actions proposed in the final report. (More on eu-mayors.ec.europa.eu)

Our planet is facing rapid climate change because nature cannot keep up with human activities. All around us are natural ways of dealing with these changes. He caused the current climate crisis (more…)

Climate change is an existential threat to population health and has already affected ecosystems, food production, and the health and well-being of populations worldwide. Healthcare is responsible for approximately 5 % of greenhouse gas emissions worldwide.

The health sector has a unique opportunity to use its position and resources to provide a comprehensive strategy to combat climate change and improve the health of the population and the environment on which it depends.

What green interventions can affect climate change? Are there effective strategies to reduce waste? Is the health sector doing enough? Join us and find out!

Tuesday 1 October 2024, 15:00 – 16:00 (CET)