Stournaras: The cost of climate change for the Greek economy to reach 701 billion euros by 2100
- Written by E.Tsiliopoulos
Greece's GDP may decline by 2% annually by 2050 and even further by 2100 due to climate change, Yiannis Stournaras said.
The total cost to the Greek economy could reach 701 billion euros by 2100, the Governor of the Bank of Greece said, speaking at a conference on sustainable development.
Agriculture is the sector that is expected to be most affected by climate change in Greece, Mr Stournaras noted, while the impact on tourism and coastal systems will have a significant impact on household income and on the economy as a whole. Of particular importance is the water supply sector, on which both agriculture and citizen welfare depend.
Over the last ten years, the Bank of Greece has been actively involved in research, in-depth dialogue and the provision of scientific documentation through the actions of the Interdisciplinary Committee on Climate Change Impact Assessment, Mr. Stournaras reminded.
