Germany may face economic losses of over 100 billions euros due to high temperatures

As many parts of Europe have recently experienced consecutive high temperatures, the German business community has expressed concerns about the potential economic impact of extreme heat. According to a recent survey released on the 28th, continuously rising temperatures are gradually increasing pressure on the German economy and may have a significant impact on economic output as early as 2030. The survey indicates that if the trend of heatwaves over the past ten years continues until 2030, Germany’s economy could face a loss of approximately 112.5 billion euros. The research suggests that high temperatures create a “double pressure” on companies: on the one hand, rising temperatures cause a decline in labor productivity; on the other hand, increased demand for cooling drives up energy costs. (CCTV)