Canadians will see lower incomes and a choice between higher taxes or fewer government services if there isn’t more effort to adapt to the changing climate, a new report from The Canadian Climate Institute warns. But according to a report released Wednesday, if governments and the private sector buckle up and start investing in making […]
Workers assess downed power poles caused by post-tropical storm Fiona in Dartmouth, N.S. on Sunday, September 25, 2022. Canadians will see lower incomes and a choice between higher taxes or fewer government services if there isn't more effort to adapt to the changing climate, a new report from The Canadian Climate Institute warns.
“The good news story is we have some ability to change this future,” said Ryan Ness, the director of adaptation research for the climate institute. In 2021, severe weather caused $2.1 billion in insured damages, which does not include costs related to public infrastructure or uninsured private losses.
“Negative economic impacts are not just a future prospect. They’re already happening today,” said Ness. Construction will get an economic boost, but only because it needs to step in to repair and replace damaged structures and transportation corridors, the report says. But if every effort is made to limit global warming by cutting greenhouse gas emissions, the report says, and Canada makes the needed investments to add resilience to public and private infrastructure, things will look better.
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