Spain has submitted a formal proposal to the calling for a permanent EU climate emergency response system. Minister Sara Aagesen sent the request to Wopke Hoekstra on 3 September, advocating for a dedicated firefighting aircraft fleet.
The plan suggests funding climate adaptation through taxes on luxury flights and oil and gas profits. It also proposes common debt instruments, climate risk bonds, and a public-private reinsurance scheme to cover losses in sectors like water and agriculture.
Economic data shows EU member states lost 822 billion euros to extreme weather since 1980, with 208 billion occurring since 2021. The Commission is expected to present its Integrated Climate Resilience Framework this autumn to address these rising costs.