The impact of extreme weather on Europe's economy has skyrocketed since the 1980s and is set to get worse as the globe warms, according to a new report.

The European Environment Agency (EEA) found that, as well as causing 85,000 deaths, turbulent weather conditions came at a price of nearly €393bn to the continent between 1980 and 2013.

The Climate change, impacts and vulnerability in Europe report put damages at an annual average of €7.6bn in the 1980s. This had climbed to €13.7bn by the 2000s, an increase of 80%.

Looking specifically at Ireland, flooding and harsh weather conditions have cost the State nearly €3bn in that time. 

While the EEA was careful not to overly-attribute this cost to human-induced climate change, it does warn that weather is likely to worsen if the rise in global temperatures continues.

EEA executive director Hans Bryninckx said in a statement:

"Climate change will continue for many decades to come.

"The scale of future climate change and its impacts will depend on the effectiveness of implementing our global agreements to cut greenhouse gas emissions, but also ensuring that we have the right adaptation strategies and policies in place to reduce the risks from current and projected climate extremes."

The report forecast the economic cost would "potentially be high, even for modest levels of climate change, and these costs rise significantly for scenarios of greater levels of warming”.

As climate change affects the developing world, the report states, the impact on European food supplies, trade, security and more could be significant:

"The strongest evidence for Europe’s vulnerability to cross-border impacts are the economic effects seen as a result of climate-related global price volatilities and disruptions to transportation networks."

Last year was the hottest since modern record-keeping began in 1880. A new record has been set for three years in a row, according to NASA and the National Oceanic and Atmospheric Administration (NOAA).

As shown in this video from NASA, 16 of the 17 warmest years have been since 2001...