During the 1980s, annual damages were estimated at €8.5 billion; today they are five times higher, reaching as much as €44.5 billion. A particular problem is that in Serbia and across the Western Balkans there is no developed insurance system to cover such losses, meaning the entire burden falls on citizens and public finances. Yet this is only the beginning, with many other issues still on the agenda.
“The financial industry has traditionally prioritised revenues over avoided losses. But the climate operates regardless of investment preferences, and avoided damage is always the cheapest form of gain.”
Aleksandra Njagulj (Sustineri Partners) writes for Radar.
The full article is available here:
https://radar.nova.rs/ekonomija/klimatske-promene-adaptacija-civilizacija/
