The economic impact of climate change on European agriculture
This study presents estimates of how changes in climate might affect the value of European farmland. Based on data for over 41 000 farms, the results suggest that their economic value could drop by up to 32%, depending on the climate scenario considered. The models represent severe, moderate and mild outcomes, respectively. Farms in southern Europe are particularly sensitive to climate change and could suffer value losses of up to 9% per 1 °C rise.