PARIS — France’s historically hot summer will end up costing the country €10 billion to €15 billion — the equivalent of as much as 0.5 percent of French gross domestic product — according to an estimate shared by Minister for Ecological Transition Monique Barbut.
Barbut said the preliminary estimate, which she advised treating “with great caution,” was based on an extrapolation of heat-related costs compiled by France’s official statistics agency, Insee, in past years. She added that the figure could rise as temperatures remain well above seasonal averages in many French regions. Eighty-five percent of the country was also under drought warnings as of mid-July.
Barbut said recent wildfires and drops in agricultural output were the biggest estimated costs and warned they would continue to grow in the future if governments fail to implement policies to limit the impacts of climate change.