How much will Alberta wildfires cost? Canada must spend more on handling extreme weather
, which comes as parts of neighbouring British Columbia also burn, should reinforce the need for our government to commit more funds to combatting such extreme-weather events.
Funding in the budget built upon $1.6-billion announced in 2022 to mobilize adaptation practices outlined in the National Adaptation Strategy . The NAS was an important commitment for which the government deserves credit. While funding for the NAS – which Public Safety Minister Bill Blair described as a “down-payment” – moves Canada in the right direction, a large climate adaptation funding gap remains.
Disparity on investment in climate resilience across perils exists not only within Canada, but also in comparison to Canada’s largest trading partner, the United States. The U.S. Inflation Reduction Act last year provided about US$30-billion for climate adaptation, directed to agricultural practices, forest fire protection and the fortification of coastlines. Additionally, President Joe Biden’s 2023 budget provided another US$18-billion for climate resilience and adaptation programs.
As extreme weather continues to expose vulnerabilities in supply chains, electricity grids, transportation corridors, communications networks and seemingly endless infrastructure interdependencies, there is little doubt that Canada’s GDP will be disproportionately affected relative to the more resilient U.S. economy.To begin, funding for the Greener Homes Initiative, administered by Natural Resources Canada, should be increased by $1-billion, spread over five years starting in 2023.
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