ECB's Elderson: 72% of euro area companies depend on at least one ecosystem service

In a COP17 keynote in Yerevan, ECB Executive Board member Frank Elderson said "72% of companies in the euro area depend on at least one ecosystem service". He cited research finding "a 1-in-100-year drought event could put up to 24% of euro area economic output at risk", and said food-price rises after heatwaves and droughts "are an upside risk to price stability".