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Last summer's brutal heat wave in Europe caused crops to wilt, rivers to dry up, and workers to stay indoors to escape the scorching temperatures.
The economic blow was expected to cause prices to rise even further, magnifying inflation sparked by the Ukraine war, although experts at the time were reluctant to quantify by how much.
The numbers are in now, but even though climate change had a measurable impact on prices last year, it's nothing compared to how much warmer temperatures, natural disasters, and unpredictable weather patterns will affect inflation a decade from now, per a report published last week by the European Central Bank and the Potsdam Institute for Climate Impact Research.
Europe's high temperatures last summer increased food inflation on the continent by 0.67 percentage points, but the same conditions would be amplified by 50% in 2035 under current projections for weather extremes a decade from now, according to a report published last week by the European Central Bank and the Potsdam Institute for Climate Impact Research.
It gets worse: Without unprecedented investments to adapt to the new reality through innovation, climate change could add one percentage point to global inflation every year between now and 2035.
The worst effects would be reserved for food prices, which could rise by over 3% every year as higher temperatures decimate the world's crops
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
Coral Vita: Over $8 million Series A Raised For Scaling Reef Restoration.Coral reefs support 25% of marine life and generate about $2.7 trillion annually.coral reefs face dire threats from climate...more
Community Impact Investing: Evaluating Nonprofits and Corporate Grants as Strategic Opportunities.In an era where ESG investing is reshaping capital markets, corporate philanthropy has emerged as a...more
Climate tech startups and investors have weathered a reality of rising interest rates, constrained capital markets, and geopolitical headwinds.This session will unpack the current state of early...more
California must consider how to increase interest in teaching and lower the cost of and barriers to entering the profession.AB-1128, a bill under consideration in the legislature, proposes a...more
Mondelēz's Sustainable Futures Impact Investment platform said the capital "further advance[s] scalable, high-impact solutions at the nexus of climate, community, and circularity" The companies...more
South African recycling startup Regenize has secured an undisclosed investment from E Squared Investments.The deal combines philanthropic goals with venture capital methods to support scalable,...more
Cambridge-based Remedium was named winner of the Climate Impact Prize at the Net Zero Technology Centre's annual TechX Demo Day in Aberdeen.The prize is given to the startup with the most promising...more
Sustainable Times is a media partner for this event, which takes place on June 24-25, 2025, at ExCeL London, as part of London Climate Action Week.RESET Connect provides a network of potential...more
Rad AI announces an additional $8 million investment led by four health systems.Advocate Health, Memorial Hermann Health System, Corewell Health, and Atlantic Health System lead the investment.Rad AI...more
MedTech CellCentric has raised 90m in fresh funding.The money will support the advancement of the Cambridge company's oral treatment for multiple myeloma, inobrodib.The financing was co-led by RA...more
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Rockefeller Foundation
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Spotlight
When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
