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Economy Minister Giancarlo Giorgetti
on Friday highlighted the need to address the climate crisis,
pointing out the danger it poses to economic stability.
"Climate change and the models of global development are further
accelerating the frequency and severity of natural disasters,
which pose significant risks to economic and financial
stability," Giorgetti said in a message to a high-level
conference organized by Italian insurers association ANIA.
"The last decade has seen the most costly catastrophic events in
history, having an impact economic growth and individual
well-being.
"Aside from the immediate damage, these events have long-term
negative economic consequences, as they disrupt markets and put
a strain on public finances".
Civil Protection Minister Nello Musumeci told the same
conference it was possible that the government will make it
obligatory for households to take out insurance policies to
cover properties for the risk of natural disasters.
Scientists say the climate crisis caused by human greenhouse gas
emissions is making extreme weather events such as heatwaves,
droughts, supercharged storms and flooding more frequent and
more intense.
Southern Italy is current suffering a severe drought, which is
causing massive problems, especially in Sicily and Sardinia.
Although there are many sources of the greenhouse gases that are
causing global heating, the main driver is the burning of fossil
fuels such as oil, gas and coal, sales of which generate huge
profits for the world's energy giants.
A series of recent disasters triggered by extreme weather have
shown Italy's exposure to hydrogeological risk, including
flooding, mudslides and landslides, as seen this week in Emilia
Romagna.
On Wednesday Premier Giorgia Meloni told industry association
Confindustria's assembly in Rome that she will try to "correct"
the EU Green Deal because it is too damaging to European
business as it is.
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