‘Summer of truth’: will political leaders act as climate chaos comes knocking?

Climate chaos has ravaged Europe and the northern hemisphere, shattering heat records and causing widespread destruction. The European Union has estimated the damage at approximately €180 billion, with the full cost still to be tallied. This devastating summer has brought home the harsh realities of climate change, prompting European Commission President Ursula von der Leyen to label it the "summer of truth". As governments face mounting pressure to act on climate, the question remains whether they will take decisive action to mitigate the crisis and prevent future disasters.

Why it matters

Politicians are often slow to act on climate change despite growing public demand. This can impact the effectiveness of climate policies and international cooperation.

Market impact

Markets & countries in focus

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