UNDERPIN at Expert Meeting on Economic Losses from Climate Extremes

Europe is facing more frequent and costly climate and weather extremes, but evidence is fragmented across data providers and reporting practices. While the EEA indicator offers a common reference point, its practical value depend on methodological choices and reporting practices such as how extremes are defined and aggregated (including cross-border and compound events), how double counting is avoided, and how results are made comparable across years and places. These choices are also important for adaptation monitoring, risk assessment, disaster risk reduction, and public finance and budgeting. They matter for the EU Mission on adaptation to climate change, national systems for monitoring, reporting and evaluation (MRE), the Sendai Framework for DRR 2015–2030, and resilience investment planning. The webinar thus provides an opportunity to compare methods and set priorities for further development: better data coverage, communication of uncertainty, interoperability with insurance and catastrophe model outputs, and reproducibility through documentation and open tools. By bringing together data producers, users, and related initiatives, we hope to foster methodological convergence, clarify limitations, and agree on next shared steps across various areas of policy and practice. The goal is to ensure that reported losses not only serve “disaster accounting”, but also offer forward-looking insights for targeting future risk storylines and evaluating progress made on climate adaptation and risk reduction.