ECB warns extreme water scarcity could put 24% of euro area output at risk - www.irishsun.com

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BRUSSELS, 9th November, 2026 (WAM) -- The European Central Bank (ECB) warned today that an extreme water scarcity event could put up to 24% of euro area economic output at risk of loss. In an article published in its Economic Bulletin, the ECB said research showed that 72% of companies in the euro area were highly dependent on ecosystem services, while nearly 75% of banks' corporate lending went to firms highly dependent on at least one such service. The ECB estimated that additional green investment of around 3% of EU GDP would be required annually until 2030 to meet the EU's climate objectives, with the public sector expected to cover 20%-25% of total investment needs and private capital financing the remainder.