Failing to adapt to climate change carries big costs for the country’s building stock
As extreme weather events become more frequent and severe in Canada, Regan Smith, head of sustainable investing – real estate and infrastructure for Manulife Investment Management, says the future costs of failing to plan for climate resilience need to be considered.When construction company president Joshua Gaglardi watched a live tracker show a wildfire approaching a warehouse his company built, it was a wake-up call that climate change poses an urgent risk to his business.
Mr. Gaglardi says Orion’s buildings are built with concrete walls that are between 12 to 14 inches thick and can withstand fire for two hours. When it comes to flooding, the company adjusts its locations so they’re built in areas that are less prone to sea level rise and floods. Mr. Gaglardi says his firm targets its work in B.C.’s Lower Mainland communities, such as Surrey, Langley and Abbotsford. However, some Lower Mainland areas are lower than the flood construction level.
”There are 60,000 communities in Canada at risk of wildfires,” Mr. McGillivray says. “We can build quite attractively and still make the structure less flammable.” Institutional developers and investors haven’t solved the cost conundrum, either. However, they say they are factoring climate resilience into their investment decisions.
Topstories Commercial Real Estate Property Report Appwebview Advpropertyreport BC Wildfires BC Flooding Flooding Canada Flooding Canada Wildfires Building Retrofit Canada BC Retrofit Climate Risk Climate Adaptation
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Failing migrant rights, failing public healthThe Hill Times
Read more »
Charges withdrawn against Toronto cops accused of failing to properly investigate murdered woman's disappearanceNearly a decade after the family of Tess Richey found her remains in a stairwell in Toronto, professional misconduct charges against two of the police officers initially tasked with investigating her disappearance have been withdrawn.
Read more »
Tropical Storm Hone steadily approaches Hawaii, threatening floods and firesHONOLULU (AP) — Tropical Storm Hone, whose name is Hawaiian for “sweet and soft,” drew near the islands Saturday with breezes that were expected to intensify — and increase the wildfire risk for drier parts of the state even as memories are still fre
Read more »
Tropical Storm Hone steadily approaches Hawaii, threatening floods and firesThe Globe and Mail offers the most authoritative news in Canada, featuring national and international news
Read more »
Tropical Storm Hone steadily approaches Hawaii, threatening floods and firesHONOLULU (AP) — Tropical Storm Hone, whose name is Hawaiian for “sweet and soft,” drew near the islands Saturday with breezes that were expected to intensify — and increase the wildfire risk for drier parts of the state even as memories are still fre
Read more »
Tropical Storm Hone steadily approaches Hawaii, threatening floods and firesHONOLULU (AP) — Tropical Storm Hone, whose name is Hawaiian for “sweet and soft,” drew near the islands Saturday with breezes that were expected to intensify — and increase the wildfire risk for drier parts of the state even as memories are still fre
Read more »