If 2026-2030 repeats the hottest years of 2014-24, France, Germany, Japan, Spain and Italy are projected to lose 5-7% of their GDP.

Labor productivity losses, Rising energy costs, wage stagnation, investment decreases, infrastructure spending, & stagflation. These are the main ways climate change's extreme heat is reducing GDP. France, Germany, Japan, Spain and Italy are luckier than most, they're rich countries. This GDP will hit the world's poorest the hardest, reversing decades of gain where extreme poverty was decreasing.

Too hot to grow: The economic costs of extreme heat. Source: Allianz SE