ROME, June 11 (Xinhua) -- Climate-related damage could reduce Italy's gross domestic product (GDP) by over 5 percent by 2050 if mitigation policies remain unchanged, the Parliamentary Budget Office (UPB) warned Wednesday.
Italy's long coastline, water stress, and reliance on agriculture make it particularly vulnerable to climate change. According to the UPB's annual report, floods, droughts, wildfires, and heatwaves have already cut GDP by 0.2 percent in 2023. Under a "no-policy-change" scenario, the economic impact could reach 5.1 percent by 2050.
