Simon Stiell, UNFCCC Executive Secretary, warned the European Parliament that extreme summer heat has cost Europe approximately €180 billion in lost productivity. He linked these economic costs to continued fossil fuel dependency and argued that accelerating the clean energy transition can provide an important economic solution.
Stiell noted that renewable energy sources now provide half of Europe’s electricity. Solar power alone helped save more than €30 billion in avoided gas imports during the first six months of 2026, highlighting the economic benefits of accelerating Europe’s shift towards cleaner energy.
Reference: United Nations