November 2009: The European Commission (EC) has released a report of a multi-sectoral assessment of climate change impacts in Europe for 2011-2040 and 2071-2100. The EC-funded project PESETA (Projection of economic impacts of climate change in Sectors of the EU based on boTtom-up Analysis) created an economic modelling framework to quantify the impacts of climate change on vulnerable aspects of Europe, taking into consideration agriculture, river floods, coastal systems, tourism and human health.
The study notes possible large variation across different climate futures, EU regions and impact categories. Southern Europe, the British Isles and Central Europe North appear to be the most sensitive to climate change, while Northern Europe is the only region with net economic benefits, due the positive effects in agriculture. [The Report]