Drought and Heat Strain Water and Power: Europe’s worst drought in decades is exposing riverbeds and disrupting trade and electricity, with Lake Maggiore and Lake Zurich among the affected systems as water levels hit record lows, including Lake Zurich’s lowest in 75 years. Wildfire Risk Escalates: A new study warns Europe’s wildfire risk could triple by century’s end, with the Mediterranean and parts of western/central Europe facing much higher burned areas even if climate action improves. Italy Energy Angle—Heat’s Economic Hit: Extreme heat is already cutting growth via lower river freight capacity and reduced nuclear output, with Italy among the economies most exposed to climate-driven shocks. Marine Fuel Transition Watch: New market reporting flags how EU and global rules are reshaping bunker fuel demand toward cleaner blends, LNG and bio-components—an issue for Italy’s ports and shipping sector. Nord Stream Case (Security, Energy Supply): Germany says a “trained scuba diver” linked to the 2022 Nord Stream blasts was arrested in Croatia, keeping pressure on Europe’s energy-security debate. Local Business Note: Lockton appoints Lotte Kragh as Head of Energy for Denmark, signaling continued insurance focus on energy-sector risk.