BRUSSELS: Economic losses from extreme climate-related events in the European Union have averaged £26 billion per year over the past decade, according to the European Court of Auditors (ECA). The report highlights the increasing financial burden on the EU economy and raises concerns about the effectiveness of current adaptation strategies. According to Emirates News Agency, the ECA report warns that with a global warming increase of 1.5 to 3°C above pre-industrial levels, which is considered a conservative estimate, the EU could face annual economic losses ranging from £42 billion to £175 billion. Klaus-Heiner Lehne, the ECA Member responsible for the audit, emphasized the need for improvement in implementing EU policies to keep pace with climate change. "We looked at how the EU is addressing the urgent need to adapt to recurring extreme climate conditions," Lehne stated. "We found issues in the way policies are implemented on the ground." The auditors evaluated national adaptation policies in France, Eston ia, Austria, and Poland, finding them generally aligned with EU strategy. However, they noted concerns over outdated scientific data in national strategy documents and the underestimation or omission of adaptation costs. Despite the EU's emphasis on local-level adaptation, the audit revealed that many municipalities were unaware of climate adaptation strategies and were not utilizing EU tools like Climate-ADAPT, Copernicus, and the EU Covenant of Mayors. While over half of the audited projects effectively addressed climate risks, the auditors also identified challenges, including conflicting priorities where climate adaptation objectives clashed with other goals such as competitiveness or regional development. The report calls for enhanced awareness and better implementation of adaptation measures to mitigate the economic impacts of climate change in the EU.