CanadaSA国际影视传媒檚 first-ever climate adaptation strategy was little more than six weeks old when fast-moving wildfires swept through communities in British ColumbiaSA国际影视传媒檚 southern interior, forcing thousands to flee and destroying hundreds of homes.

It was part of CanadaSA国际影视传媒檚 record-breaking summer of fire SA国际影视传媒� more than 19,000 Yellowknife residents were ordered to escape a threatening blaze, fire ripped into suburban Halifax and smoke from fires in Quebec blanketed New York City and Washington, D.C. Some 200,000 people were evacuated from their homes across Canada.

There was also flooding in Nova Scotia that killed four people.

The disastrous events provided a taste of the worsening impacts of climate change, and recovering from such events costs many times more than adaptation, says the federal government.

Supporters of the preventive approach worry thereSA国际影视传媒檚 a lack of will and funding to implement the national adaptation strategy. And the longer it takes to both mitigate climate change while protecting Canadians from worsening impacts, the more costly it will become to recover from them, experts say.

The national adaptation strategy, released in June, outlines and puts timelines on OttawaSA国际影视传媒檚 goals to reduce wildfires, extreme heat, flooding, and a host of other impacts linked to global heating.

SA国际影视传媒淲e rolled up our sleeves, engaged very directly in the drafting of the strategy, and weSA国际影视传媒檙e quite pleased with the result,SA国际影视传媒� said Craig Stewart, vice-president for climate change and federal issues with the Insurance Bureau of Canada.

SA国际影视传媒淔or the first time, Canada has not only a national adaptation strategy, but one that sets near-term targets for action,SA国际影视传媒� he said.

But Stewart said the strategy so far lacks the necessary funding and implementation planning to get OttawaSA国际影视传媒檚 plans off the ground.

SA国际影视传媒淲e havenSA国际影视传媒檛 seen the leadership we would expect in the last six months to actually translate those targets into action, nor do we see any funding on the horizon.SA国际影视传媒�

The Insurance Bureau of Canada is a member of Climate Proof Canada, a coalition of insurance companies and associations, climate research institutes and non-profits, as well as the Canadian Chamber of Commerce, the Federation of Canadian Municipalities, the Assembly of First Nations, the Canadian Red Cross, and others.

Pressing for funding

Last month, the coalition met with cabinet ministers and opposition politicians, pressing Ottawa to SA国际影视传媒減rovide key fundingSA国际影视传媒� to implement the adaptation strategy.

In a June news release, the federal government said it had allocated more than $6.5 billion toward adaptation measures over the last eight years, including $2 billion in commitments to support the strategySA国际影视传媒檚 implementation.

However, OttawaSA国际影视传媒檚 economic statement last month did not mention adaptation and there havenSA国际影视传媒檛 been any new, adaptation-specific funding announcements.

SA国际影视传媒淚tSA国际影视传媒檚 a bit dispiriting to be honest, given the (disasters) that have happened, given the tabling of the strategy and the lack of follow-through,SA国际影视传媒� Stewart said.

The federal government has said the average annual cost of disaster-related losses is projected to reach $15.4 billion by 2030. That forecast SA国际影视传媒渃an be reduced by ambitious adaptation action,SA国际影视传媒� Ottawa said in its June statement.

By 2025, climate impacts are expected to slow CanadaSA国际影视传媒檚 economic growth by $25 billion annually, it said, citing research by the Canadian Climate Institute.

In its national strategy, Ottawa acknowledges that SA国际影视传媒渁daptation saves money,SA国际影视传媒� saying SA国际影视传媒渆very dollar spent SA国际影视传媒� saves up to $15,SA国际影视传媒� while generating SA国际影视传媒渟ignificant benefits.SA国际影视传媒�

Still, Stewart said the lack of implementation planning and funding for the strategy suggests SA国际影视传媒渢hereSA国际影视传媒檚 a lack of political will around adaptationSA国际影视传媒� after the last federal budget earmarked $40 billion in tax credits and funding for clean energy.

SA国际影视传媒淭hey made a policy choice to go all-in on essentially transforming the electricity system SA国际影视传媒� and that hasnSA国际影视传媒檛 given them the wiggle room to be bold in other areas.SA国际影视传媒�

But Stewart said adaptation is key.

SA国际影视传媒淲hen people witness floods, when they have loved ones who are affected by extreme heat, when theySA国际影视传媒檙e inhaling wildfire smoke, thatSA国际影视传媒檚 when climate change becomes tangible, in a way that, you know, carbon emissions are not,SA国际影视传媒� he said.

Climate adaptation is also an affordability issue, Stewart said.

SA国际影视传媒淚f you are building homes that are not resilient, and youSA国际影视传媒檙e building them on floodplains, or youSA国际影视传媒檙e building them in high-risk areas for wildfire, and youSA国际影视传媒檙e not investing in the protection, then youSA国际影视传媒檙e actually putting families at financial risk.SA国际影视传媒�

The cost of rebuilding thousands of homes destroyed by climate-related disasters exacerbates existing housing supply and affordability problems, he added.

Neal Willcott is the co-author of a 2022 report for the Institute for Sustainable Finance at QueenSA国际影视传媒檚 University in Kingston, Ont., examining the physical costs of climate change, including infrastructure and biodiversity, to the year 2100.

The researchers took a widely used model and SA国际影视传媒渞epurposedSA国际影视传媒� it for Canada in order to make projections about climate damages and GDP over time, he explained.

SA国际影视传媒橶e canSA国际影视传媒檛 afford not to do thisSA国际影视传媒�

The modelling found CanadaSA国际影视传媒檚 total losses ranged from $2.773 trillion with 2 C of global heating to almost double that amount under a 5 C scenario.

Comparing those losses to the costs associated with mitigating climate change, the report says the model found spending to cut greenhouse gas emissions SA国际影视传媒渕ore than pays for itselfSA国际影视传媒� in terms of avoiding physical damages alone SA国际影视传媒� even without accounting for the potential benefits of transitioning to a low-carbon economy.

SA国际影视传媒淲e can safeguard the Canadian economy, protect our ideal growth projections, and SA国际影视传媒� it will cost less than what the cost of climate change is,SA国际影视传媒� Willcott said.

SA国际影视传媒淭he present value lost is so high that we canSA国际影视传媒檛 afford not to do this, but also, the costs of the solution are low enough that we really should do this.SA国际影视传媒�

The report says the Intergovernmental Panel on Climate Change has estimated that Earth is on track for around 3 C of global heating. A forecast that is particularly bad news for Canada, which has been warming twice as fast as the global average, it says.

SA国际影视传媒淲eSA国际影视传媒檙e talking about three degrees in terms of world heating, which means six degrees in terms of Canada. In the Canadian North, it would be nine,SA国际影视传媒� said Willcott, an assistant professor at Memorial UniversitySA国际影视传媒檚 faculty of business administration.

The modelling did not take into account the economic benefits of fighting climate change, nor the health costs associated with climate change, he added.

Given SA国际影视传媒渇iscal restraints,SA国际影视传媒� Stewart said the insurance bureau has been trying to work with government to identify SA国际影视传媒渓ow-hanging fruitSA国际影视传媒� for adaptation measures.

A national flood insurance program is at the top of the list, he said.

SA国际影视传媒淲e have demonstrated SA国际影视传媒� through very sophisticated costing, that a national flood insurance program will actually save governments money,SA国际影视传媒� he said.

The last federal budget allocated close to $32 million SA国际影视传媒渁s a first stepSA国际影视传媒� toward setting up the program, and Stewart said insurers have offered to help by providing product distribution and claims administration services on a not-for-profit basis.

SA国际影视传媒淏ut the window of action is now, because it has to appear in Budget 2024 if the program is to be operationalized before the next federal election,SA国际影视传媒� he said.

SA国际影视传媒擝y Brenna Owen, The Canadian Press