by Dr. Alexander Bisaro, Martin Rokitzki, Alannah Hofemeier
How could climate change induce a crisis in Europe during the next decade? Our new Report explores 6 Scenarios of low probability, but high impact that could trigger a political, economic or financial crisis. These are not predictions about what is likely going to happen but the scenarios become more probable each year that falls short of effectively addressing the climate urgency.
The climate-risk scenarios of this report stay highly relevant to inform the Post-COVID19 economic recovery that will likely be unsteady. Climate-induced crises could hit an already destabilized European economy. The quick transformation of the European economy to a zero-emissions society is therefore imperative. Aligning all levers of economic policy, fiscal and monetary alike, with the overarching need for a rapid transition to a zero emissions society while strengthening resilience is the conclusion that this study demands.