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  "documentTitle": "Climate Tech Investments An Opportunity for Europe",
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      "kind": "callout",
      "text": "b. Our inaction already comes at a cost to today's economy",
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      "text": "Stacked bar chart showing annual economic damage in EUR billion from 1980 to 2020, categorized by event type.",
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      "text": "Climatological events, Hydrological events, Meteorological events",
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      "text": "In 2019, global net emissions of GHG emissions reached 59 billion tonnes of CO2 equivalent (GtCO2e). This represents a 12% increase compared to 2010 and a staggering 54% increase compared to 1990. The good news: The annual growth rate of GHG emissions slowed from an average of 2.1% per year between 2000 and 2009 to 1.3% per year between 2010 and 2019. The largest share of emissions with the highest growth rate originated from fossil fuel combustion and industrial processes, followed by methane.",
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      "text": "On top of its impact on the environment and societies, the climate crisis also impacts our economy. Climate-related extreme events have already caused $1.3 trillion worth of damage over the past decade alone. In the EU, climate-related damages of the last decade amount to €145 billion, according to a study by the European Environment Agency (EEA). The EEA study (2017) states that weather and climate-related extremes accounted for approximately 80% of the total economic losses attributed to 'natural hazards' and are projected to increase in the future.",
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      "text": "According to the report, the only way to stop global warming will require all sectors to undergo a rapid decarbonisation transformation. Even with radical reductions in emissions, a discernible slowdown in global warming will take around two decades. The losses and damages incurred are projected to worsen with each incremental increase in global temperatures.",
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      "text": "Source: IPCC, AR6 Climate Change 2023, 2023",
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      "text": "Greenhouse gas emissions are projected to continue to increase",
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      "text": "Annual economic damage caused by extreme weather events in the EU (1980-2020)",
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