Zurich Calls for Urgent Action to Safeguard Europe’s Clean Energy Infrastructure
Zurich Insurance Group has issued a critical warning in its latest report, Safeguarding our Energy Future: Protecting Europe’s Energy Infrastructure Against Climate Risk, highlighting the increasing vulnerability of Europe’s clean energy systems to climate-related threats.
With renewable energy at the heart of Europe’s low-carbon economy, it is now crucial to bolster the resilience of this infrastructure to ensure long-term energy security and climate goals.
Assessing the Risk to Renewable Energy
The report, which analyzed over 25,000 power generation sites across five major European countries, France, Germany, Italy, Spain, and the UK, reveals concerning findings. Utilizing Zurich Resilience Solutions’ geospatial modelling tool, Climate Spotlight, the study projected how climate hazards could affect renewable energy production and storage up to the years 2030 and 2050.
The results indicate that renewable energy assets are significantly more susceptible to physical climate risks than fossil fuel-based infrastructure. By 2030, 83% of Europe’s clean energy generation, particularly solar power, will be at high risk.
Even more alarming is the vulnerability of energy storage assets, with 92% exposed to severe climate threats. Despite the forecasted increase in renewable energy capacity by nearly two-thirds (62%) by 2030, these findings underscore the urgent need to design resilience into the clean energy transition.
Also read: Nellie Technologies Partners with Zurich Insurance for Multi-Year Carbon Removal Agreement
The Need for Immediate Action
Zurich warns that climate risks could threaten Europe’s clean energy transition and energy security, urging public-private action to boost infrastructure resilience through upgrades, stress tests, better data, and investment incentives.
As climate-related risks continue to grow, the report outlines a clear roadmap to safeguard Europe’s energy future. The recommendations aim to build infrastructure that is capable of withstanding the challenges of a changing climate, ensuring continued progress towards a sustainable energy transition.
