Italy's Environment Ministry Estimates Current Annual Climate Change Damage = 50 Billion Euros - AFP

[hatrack]

Italy's cost for environmental damages due to climate change is estimated at 50 billion euros (69 billion dollars) per year, the Italian Environment Ministry said Wednesday at a climate change conference.

"The temperature in Italy has risen four times more than the rest of the world, and the rains have diminished five percent over the last century, as bouts of dryness have multiplied," Environment Minister Alfonso Pecoraro Scanio said.

He told attendees these estimates are based on an October 2006 report by Sir Nicholas Stern, former head economist for the World Bank. Stern evaluated damage due to changing weather conditions at more than 5,500 billion euros.

EDIT

http://www.terradaily.com/2007/070912153329.lxxwdjru.html

[lapfog_1]

1. Coming up with a $ amount (or a Euro amount) just doesn't do it

justice. It's not like the citizens of Italy can pay $50 B Euros and have everything back the way it was.

[gateley]

2. Excellent point. nt