Displaying items by tag: economic aid

Rivers drying up and farmland parched: Europe’s water scarcity is affecting lives and businesses. Scientists warn the current European drought could become its worst in over 500 years. Water scarcity has hit 60% of the continent from Italy to the UK. An unusually dry winter and scorching summer heat reduced rivers to rivulets. The historic water reserve lows have forced governments to restrict supplies, seriously affecting many sectors from agriculture to shipping. In July heatwaves shaved 0.5% off Europe’s annual GDP. Wildfires destroyed crops across Italy, Greece, France, and Spain, and energy prices are up because of the war in Ukraine. The Global Commission on Adaptation said an estimated investment of $800m in climate programmes could save poor nations up to $16bn every year.