A new report is warning Canadians of the consequences associated with climate change that could cost Canada billions of dollars in the future and as well as which region will be hit super hard.
The report, by the Canadian Institute for Climate Choices, tells the grim story of how the country could soon face ‘massive and mounting’ costs as a result of the change in the atmosphere up in the north leading to issues like rising sea levels and permafrost thaw.
This could be a big problem in Northwest Territories, for example, where climate change possibility could cost $1.3 billion over the next 75 years.
Climate change cost in Northwest Territories
It comes with more than a high price tag. They said that environmental shifts in this region could impact health, the ecosystem and even Indigenous rights.
There is some hope, however.
The report saw a possible chance to limit that reality in the federal government's latest economic statement.
The government reportedly wants to allocate $2.6 billion to Canadians in order to turn homes into one that is energy efficient and give $287 million so that zero-emission cars can be more affordable in a bid to counter global warming, according to Clean Energy Canada.
Whether this is enough to halt climate change from doing its worst is still up for debate.
"One lesson Canada must learn from the global pandemic is that we need to get much better at foreseeing and acting on risk. As climate change accelerates, no individual, province or sector will be immune.” Canadian Institute for Climate Choices President, Kathy Bardswick said.