September 2019
FCM and Insurance Bureau of Canada Issue Report Estimating Cost of Climate Change on Municipal Governments

2019-09-27 11:55:29 AM


The Federation of Canadian Municipalities (FCM) and the Insurance Bureau of Canada (IBC) yesterday released a report outlining the estimated cost of adapting public infrastructure to the realities of climate change.

Supported by research from Green Analytics (GA), the study collected 414 climate change and disaster risk reduction adaption costs from 34 communities across the country.

Highlights of the report include:

  • An average annual investment of $5.3 billion (equivalent to 0.26% of Canada’s GDP) in municipal infrastructure and local adaption will be necessary to adapt to climate change

  • Flood, erosion, and permafrost melt are the climate risks requiring the greatest investment in adaptation

  • Buildings, dikes, and roads are the infrastructure items requiring the greatest investment.


While the study recognizes that this research is only the beginning, it does make clear that governments at all levels need to start planning for infrastructure investments to protect public assets against the expected impacts of climate change.

Municipalities across Canada, including Kingston, Halifax and Vancouver, are beginning to pass resolutions declaring Climate Emergencies. While many resolutions are symbolic in nature, the resolutions are part of a wider effort and commitment for municipal governments to protect their communities from climate change.

For more information, please see here:

FCM: Investing in Canada’s Future – The Cost of Climate Adaption

FCM: Guide – Municipal Climate Change Action Plan

Ontario Government: A Made-in-Ontario Environment Plan

AMCTO: Kingston Declares Climate Emergency  


 


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