Climate-related economic losses

During 1990–2023, economic losses from extreme weather and climate events were estimated at EUR 1 474.8 per capita, with significant variability. The year 1999 saw the highest losses of EUR 76.2 per capita due to Storm Lothar and Storm Martin, while 1990 had the lowest losses (at EUR 27.6 per capita). A second peak occurred in 2003, reaching EUR 72.8 per capita, mainly due to intense summer drought and December floods in southern France. In 2022, a strong increase in losses (EUR 62.8 per capita) was linked to a major drought episode, causing substantial damage from clay shrink–swell, estimated at EUR 3 billion (provisional balance). The losses in 2023 were also significant (EUR 64.5 per capita) due to another strong summer drought and winter floods.

These results show no clear trend, as extreme weather events cause fluctuations in associated economic losses. A 30-year period may be too short to identify a significant trend. This high variability calls for caution in setting reduction targets. Without a clear trend, economic losses from climate events are likely to remain highly variable in coming years. The Intergovernmental Panel on Climate Change forecasts suggest that the increased frequency of extreme weather events could mean economic losses will not decrease by 2030.