Climate change cost Canada an average of $400 million over three years
Published: January 10, 2020
Updated: January 11, 2020
Author: Luke Jones
Natural disasters are not just hitting the profits of insurance companies, they are also impacting the economy. The bill for the government to handle natural disasters for each of the last two and a half years reached hundreds of millions of dollars.
According to Public Safety Canada, disaster assistance from the federal government averages $430 million over three years. In 2016-17, the payout was $485.8 million, followed by $494.9 million in 2017-18, and $309.5 million in 2018-19.
Disaster Financial Assistance is available can be gained by provincial governments within six months of a catastrophe event. However, many payments can take years to reach those governments.
Environment and Climate Change Canada warned in 2019 that Canada is bearing the brunt of climate change more than most other countries. According to a report, Canada is warming at twice the rate of the global average.
“A warmer climate will intensify some weather extremes in the future,” the report said. “Extreme hot temperatures will become more frequent and more intense. This will increase the severity of heat waves, and contribute to increased drought and wildfire risks.”
- Some pointers of this rapid climate change include:
- Atlantic Canada experienced its hottest summer on record.
- Summer was the third hottest in southern Ontario and Quebec.