Climate change could slash over 5% from Italy’s GDP by 2050 if no action is taken, according to the national budget watchdog, highlighting the urgent need for global emissions cuts.
The watchdog said the fiscal impact of such disasters could jump from 0.2% of GDP in 2024 to 5.1% by mid-century. However, if global carbon-neutrality goals are met, the damage could be limited to just 0.9%.
Recent years have seen floods and droughts wreak havoc across Italy, particularly affecting the less developed southern regions. The report notes that the frequency of extreme weather events in 2050 could be six times higher without policy changes and twice as high under a carbon-neutral scenario.
UPB President Lilia Cavallari emphasized the need for coordinated international action, warning that isolated efforts to tackle climate change may prove both ineffective and expensive. The report also highlighted the growing cost of government subsidies aimed at supporting the transition to cleaner energy sources.
Two adjoining buildings collapsed in Tripoli, northern Lebanon, on Sunday (4 February), killing at least six people and trapping an unspecified number...
U.S. and Ukrainian negotiators have discussed an ambitious March goal for Russia and Ukraine to agree on a peace deal, though that timeline is likely ...
The Board of Peace created by U.S. President Donald Trump will hold its first leaders meeting on 19 February in Washington, a U.S. government official...
Russia’s Federal Security Service (FSB) said a man suspected of shooting senior military intelligence officer Vladimir Alexeyev in Moscow has been d...
Two adjoining buildings collapsed in Tripoli, northern Lebanon, on Sunday (4 February), killing at least six people and trapping an unspecified number beneath the rubble, according to security sources.
India’s trade minister said diversifying energy imports and expanding purchases of advanced technology from the United States would serve New Delhi’s strategic interests, as the two countries move closer to finalising a long-awaited trade agreement.
U.S. and Ukrainian negotiators have discussed an ambitious March goal for Russia and Ukraine to agree on a peace deal, though that timeline is likely to slip given a lack of agreement on the key issue of territory, according to three sources familiar with the matter.
Police in riot gear pushed toward a group of protesters who launched fireworks, flares and smoke bombs during a demonstration in Milan on Saturday, as the city hosted events on the first full day of the Milano Cortina Winter Olympics.
Storm Leonardo hit Spain and Portugal on Tuesday, forcing more than 11,000 people from their homes, as a man in Portugal died after his car was swept away by floodwaters and a second body was found in Malaga.
Iran would retaliate by striking U.S. military bases across the Middle East if it comes under attack by American forces, Foreign Minister Abbas Araghchi said on Saturday (7 January), stressing that such action should not be seen as targeting the countries hosting those bases.
At least 31 people have been killed and scores wounded in a suicide bombing at a mosque in Pakistan’s capital, Islamabad, during Friday prayers, prompting widespread international condemnation.
U.S. and Ukrainian negotiators have discussed an ambitious goal of reaching a peace agreement between Russia and Ukraine by March, though the timeline is widely viewed as unrealistic due to deep disagreements over territory, according to multiple sources familiar with the talks.
A Japanese city near Mount Fuji has cancelled its annual cherry blossom festival, saying growing numbers of badly behaved tourists are disrupting daily life for residents.
Rivers and reservoirs across Spain and Portugal were on the verge of overflowing on Wednesday as a new weather front pounded the Iberian peninsula, compounding damage from last week's Storm Kristin.
Morocco has evacuated more than 100,000 people from four provinces after heavy rainfall triggered flash floods across several northern regions, the Interior Ministry said on Wednesday.
Greenland registered its warmest January on record, sharpening concerns over how fast-rising Arctic temperatures are reshaping core parts of the island’s economy.
Storm Kristin has left central Portugal with severe destruction, major power outages and a reconstruction bill that officials say could reach billions of euros.
Storm Kristin has killed at least five people and left more than 850,000 residents of central and northern Portugal without electricity on Wednesday (28 January), as it toppled trees, damaged homes, and disrupted road and rail traffic before moving inland to Spain.
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