Photo : D.R.
Even before Montesquieu formulated his theory on how climate influences man and society, humans have long been conscious of the impact of climate on their behaviour. However, the acknowledgement of weather as a determining risk factor for the economy has merely been limited to the agricultural world.
In recent years, a growing number of economic sectors have begun to express their need for tools gauging the economic impact of weather on their activities. It is to meet this demand that Metnext was founded. Born a little more than 2 years ago out of a joint undertaking by Météo France and NYSE Euronext, now also supported by the Caisse des Dépôts, this body specialises in meteosensitivity and takes into account the specificities of each economic activity. Many sectors are in fact meteosensitive: the agro-food industry, energy consumption and production, tourism and leisure, general consumer products, catering, as well as services…
Metnext offers two types of services: it helps its clients to quantify their meteorological risk and to hone down their forecasts (for sales, storage, transport, production capacity…) and it also addresses its services at financial intermediaries who create products for climate coverage. In concrete terms, Metnext experts allow companies to calculate the volume of activity exposed to weather variables, and to reduce risks via an adapted form of insurance. Highly developed on the US market, but still relatively unknown in Europe, Metnext has already managed to win over a number of prestigious clients: Aerowatt (wind energy), AON (insurance broker), Belambra VVF, Danone Eaux, Decathlon, EDF, GDF Suez, Nivea, Pierre et Vacances, Poweo… “We calculate that 29 % of the French GDP is exposed to meteorological variations. This risk is too often ignored by top management though it can explain the main reasons for a rise or drop in annual activity,” explains Frédéric Bardoux, 41 years old, appointed President of Metnext in May this year. “Our experts in meteorology and statistical analysis have designed tools and indexes for quantifying meteosensitivity,” stresses Pascal Bouquet, Sales Manager for Metnext. “The aim is to help companies to increase their client service rates, to optimise their purchases, logistical flows and stock management, to help sales and marketing departments to target their promotional periods and communication tools…”
Such forecasts are far from useless: in France, a 1°C drop in winter can lead to an over-consumption of energy estimated as equalling the capacity of… two nuclear reactors! While controlling the sun and rain may remain outside the realm of humans, looking to the skies for clues is nevertheless advisable for those wishing to guarantee their economic future…
Practical information: Metnext, Palais de la Bourse, Place de la Bourse, 75002 Paris, France; Phone: (33.1)49.27. 56.70; fax: (33.1) 49.27.56.27. Further information on www.metnext.com
Key figures
• Founded in 2007
• 12 employees
• 3 shareholders: Météo France (52%), NYSE Euronext (24%), Caisse des Dépôts et Consignations (24 %)
Weather and Activity
• City energy consumption. Metnext allows retailers to adapt their available energy supply for short time horizons.
• Wind turbine energy. Using large-scale wind forecasts, Metnext determines the production of windmill parks.
• Weather & economy. Metnext allows agro-food businesses to improve their production forecasts and their supply chains.
• Insurance. With Metnext, tour-ism actors offer refunds for trips marred by inclement weather.
• Promotion. BMW-France may refund buyers of Mini convertibles for rained-out summers.
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