Summer’s wake-up call: Climate risks and stability of the EU’s macroeconomy

MEP Rasmus Andresen (Greens/​EFA), MEP Ľudovít Ódor (Renew), MEP Jussi Saramo (The Left), MEP Evelyn Regner (S&D), and the New Economics Foundation invite you to a discussion on climate risks and the stability of the European macroeconomic model.

What are the effects of climate change on Europe’s economy? And what ambitious policy change is needed to safeguard it?

More frequent and severe climate shocks are posing a serious threat to the core pillars of the European economic model and way of life. Physical hazards, such as wildfires, droughts, and heavy rainfall, lead to GDP losses, while increasing inflationary pressure and financial instability. Together, these forces create a new macroeconomic condition in which fiscal and monetary authorities are simultaneously constrained and exposed, as rising costs put pressure on already tight public budgets and conventional tools reach their limit in ensuring price stability. Yet EU economic governance continues to treat climate change as an environmental issue rather than a core threat to price stability and public finances.

The agenda for the afternoon is:

• 16:00 — Opening remarks by MEP Rasmus Andresen
• 16:10 — Keynote panel featuring Irene Heemskerk, Nicola Gagliardi, Romain Svartzman and Jaya Sood
• 17:10 — Reaction by hosting MEPs including MEP Rasmus Andresen (Greens/​EFA), MEP Ľudovít Ódor (Renew), MEP Jussi Saramo (the Left) and MEP Evelyn Regner (S&D)
• 17:30 — Q&A
• 18:00 — Networking reception