Italy Faces New National Climate Emergency To Add To Debt Woes
BloombergJul 05, 2022
Italy's cabinet has approved a state of emergency declaration for five drought-stricken regions in the north of the country. The government allocated €36.5M euros to the Emilia-Romagna, Friuli-Venezia Giulia, Lombardy, Piedmont, and Veneto regions.
These regions have been crippled by the worst drought to impact the area in 70 years, which has been exacerbated by an early-season heatwave and diminished rainfall.
The disasters in northern Italy show that climate change requires a drastic national response that may be too much for the Italian government to handle. The country is one of the most indebted in the world and is already battling the economic impact of inflation and Russia's war against Ukraine. Adding a climate emergency on top of debt woes is straining Italy's institutions to the brink.
The Italian government is boldly taking the lead and standing firm on actions to combat climate change. The nation even "greened" its constitution to protect the environment and its biodiversity. Rome's inclusive, strong approach is well renowned for safeguarding its future or generations to come.
There's an 85% chance there will be at least 2˚C degrees of global warming by 2100 according to the Metaculus prediction community.