Frank Elderson: From climate and nature risks to economic resilience and competitiveness

We are living in a time of profound economic, geopolitical and technological uncertainty. Yet amid all this uncertainty, one thing is clear: climate change and nature degradation will continue to shape our economies and societies, and we will have to deal with the consequences. Climate change and nature degradation are a certainty in an uncertain world. The events of this summer have reminded us of that reality in the most tangible way possible. For Europe, the summer of 2026 was not simply another warm season. It was the warmest summer ever recorded in Western Europe, marked by severe droughts, devastating wildfires, water scarcity and mounting pressure on ecosystems across the continent.