In brief | 22 July ‘26

Bloomberg: Heat morphs into a major economic shock for an unprepared Europe

The region, where temperatures are rising at a pace that’s roughly twice the global average, can no longer afford to ignore the economic impact of global warming, according to economists interviewed by Bloomberg.

FT: European heatwave wiped €2bn from value of grain crop, analysis estimates

France and Hungary worst hit by lost production of maize and wheat.

Reuters: Statkraft CEO sees risk of prolonged higher power prices

The war in the Middle East combined with low storage levels for both natural gas and in ​Nordic hydropower reservoirs could see European electricity prices stay elevated ‌for longer, the CEO of Norwegian utility Statkraft said.

DW: UK's new PM Andy Burnham cuts household electricity tax

Britain's new prime minister Andy Burnham announced that there would be a cut in taxes on household electricity bills, by removing VAT from October 1.

ICMM: Competition for water poses risks to the energy transition

Nearly two-thirds of mining and metals facilities worldwide are located in areas facing significant physical water risk, according to an analysis by ICMM.