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Olaf Sleijpen says heat is affecting harvests and productivity, and cites a preliminary estimate of a possible 1% reduction in EU GDP in 2026.
What has changed? · 01/10/2026, 16:52 UTC
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The economic impact of climate change can no longer be denied, De Nederlandsche Bank president Olaf Sleijpen said in a speech in Frankfurt reported by ANP on 1 October. He cited an initial estimate suggesting that combined effects could reduce EU GDP in 2026 by about 1%, or roughly €180bn. He stressed that it was not an official estimate. [1]
Sleijpen said millions of tonnes of grain had been lost to heat over the summer, potentially accelerating food price rises. [1]
He also linked heat to productivity, citing estimates made that week by credit insurer Allianz Trade. For Sleijpen, those pressures show why climate change matters to the economy and financial sector. [1]
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