‘London isn’t just calling—it’s cooking.’ Europe’s largest economies face over $600 billion in heat-driven losses by 2030

The UK and parts of Europe are experiencing a record-breaking heatwave, with London's hottest June day on record and red alerts issued. The UN's Antonio Guterres highlighted the crisis during Climate Week, noting extreme heat is becoming a structural economic risk. Allianz projects $638 billion in heat-related GDP losses by 2030 for France, Germany, Italy, and Spain.