Climate-related economic losses

Extreme weather events are estimated to become more frequent and more intense due to climate change, thus increasing the risk of climate-related hazards and damage, emphasising the need for climate adaptation. Although the general upsurge in insurance payouts for climate-related risks derives from increasing exposure (i.e. industry expansion) and a value increase of insured assets, there are indications that climate change is having an impact. Climate-related hazards are expected to affect all sectors of Swedish society and statistically significant upward trends in the numbers of natural hazards and insurance payouts due to extreme weather events can be distinguished.

The main consequences of climate-related hazards in Sweden are economic losses. During 2015–2023, close to 146 000 incidents of natural-disaster-related damage occurred in Sweden, corresponding to a total amount of just below SEK 8.8 billion. While more data spanning over longer periods of time are needed to give a clearer picture, it is increasingly clear that overall societal susceptibility to climate-related hazards has increased. A more thorough analysis of climate-related events and the resulting economic damage is needed to determine the effects of the adaptation measures being implemented in Sweden.