Climate-related economic losses

Assessing the economic impacts of climate change is challenging, and current statistics only capture a portion of the costs. Variations between years are significant, and overall costs will likely increase over the long term. Climate change increases direct economic risks related to weather conditions and also various indirect and difficult-to-identify risks. Floods cause damage, particularly along the flood-prone rivers in western Finland, and storm damage incurs costs, especially for the forestry industry. Warming can enable faster tree growth in summertime, but it makes logging in wintertime more challenging, as the ground does not freeze. The risk of invasive species, insects and disease outbreaks increases. Agriculture may benefit from new crop varieties and species that cannot thrive in the cold climate. However, extreme weather conditions make farming difficult and are likely to increase nutrient run-off from fields. While cold-related health issues might decrease, injuries caused by slipping will increase if temperatures frequently hover near freezing. Indirectly, climate change might lead to increased costs related to mental health challenges as a result of a lack of snow and increased darkness in southern Finland.