Heatwaves and drought cost Germany €36 billion, Greenpeace says

Severe heatwaves and droughts that struck Germany this summer have cost the country's economy at least €36 billion, or about one percent of its gross domestic product, according to estimates from the international environmental group Greenpeace.

In a statement, Greenpeace said the losses affected several key sectors, including the labor market, transport, health, agriculture, forestry, and education. The organization noted that high temperatures and drought placed additional strain on the economy, infrastructure, and public services.

Greenpeace reported that drought alone caused losses of around €7.5 billion in the forestry sector, while agriculture suffered losses estimated at €3.4 billion.

The group also pointed out that the estimates do not include the full environmental damage from wildfires, such as loss of biodiversity, reduced capacity of forests to protect drinking water sources and prevent soil erosion, and harm to their ability to regulate the local climate.