A new report from the Canadian Climate Institute finds damages are already adding up quickly from floods, fires, heat, and hurricanes and it finds by 2025 climate change will slow the country’s economy by $25 billion a year.
In the aftermath of Hurricanes Fiona and Ian battering the East Coast and leaving a path of destruction, we’re getting a better idea of the consequences of climate change in today’s world.
The Canadian economy is not the only thing being affected. It also finds individual households are feeling the pinch. She adds in a bid to cover the costs of changing climate, Miller says it’s very likely governments will raise taxes. “It’s really a whole mix of things coming together to really hurt household affordability.”“Some regions are particularly hit hard. We find that Alberta is hit hard by extreme weather events and that the north of Canada is hit particularly hard, but this is really something that affects all regions of the country. B.C.
The number crunching of climate change is possible, but Miller says there are costs that are being overlooked.
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