Impacts and adaptation to climate change in European economies

► An economic evaluation of the +2 °C target for Europe is partly supported. The overall impacts are small. ► At +4 °C, impacts are notable. GDP decline throughout Europe, and between 0.1 and 0.7 per cent per year. ► The most substantial reductions in GDP take place in southern Europe. ► Some sectors that are directly impacted will also suffer from lower market prices. ► +4 °C may cause migration of workers from the south of Europe to the North.