Climate change ‘to slash value of European farmland’

Climate change ‘to slash value of European farmland’

A new EU study has suggested that the effects of climate change could reduce the economic value of European farmland by up to 32 per cent.  Farms in southern Europe are particularly sensitive to climate change and could suffer value losses of up to nine per cent per 1°C rise.

Farms in southern Europe are particularly sensitive to climate change and could suffer value losses of up to nine per cent per 1°C rise.

The study by Steven Van Passel, Emanuele Massetti and Robert Mendelsohn, entitled ‘A Ricardian Analysis of the Impact of Climate Change on European Agriculture’, concludes that policy – on water and land use, for example – will be crucial to help farmers adapt to climate change and mitigate economic losses.

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