Monique Barbut, France’s environment minister, has estimated that the country’s hottest summer on record could cost the country as much as 10-15 billion euros, or 0.5% of GDP, according to Politico.
Barbut said the initial estimates (which she urged caution) were based on extrapolation of heat-related costs from France’s official statistics agency, Insee. She added that the figure could rise as the heat continues to grip many parts of France, with temperatures well above average for the time of year. A severe drought warning was in effect for 85% of the country in mid-July.
The minister said forest fires and reduced agricultural yields were the biggest costs,
and warned that they could continue to rise in the future if the government failed to implement policy changes aimed at mitigating the impact of climate change.
According to data available from Insee, in the hottest summer on record in 2003, when France was hit by an extreme heat wave in August, grain yields fell by 22%, while wine production fell by 9%. The European Central Bank’s 2025 report concluded that regions affected by heat waves and droughts had a significant impact on European economic performance.
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