Climate change could cost Canadians up to $44 billion per year as of 2050

Climate change could cost Canadians economic losses of about $5 billion per year as of 2020, and between $21 billion and $44 billion per year by 2050, according to the National Round Table on the Environment and the Economy (NRTEE).
The NRTEE report, the fourth in its Climate Prosperity series, breaks down some of these economic costs according to the effects of climate change on various sectors of the Canadian economy.
The report says the impact of climate change on the timber supply through changes in pests, fires and forest growth are expected to cost the Canadian economy between $2 billion and $17 billion per year by the 2050s.
“The coastal land area exposed to climate change-induced flooding from sea-level rise and increased storminess across Canada by the 2050s is roughly equivalent to the size of the Greater Toronto Area,” the report notes. “The costs of flooding from climate change could be between $1 billion and $8 billion per year by the 2050s.”
The National Round Table was established in 1988 to bring “leadership in the new way we must think of the relationship between the environment and the economy and the new way we must act.”
Parliament legislated its mandate in 1993, setting out in statute the NRT’s independent, national policy advisory role on sustainable development.
The full report is available at:
http://nrtee-trnee.ca/climate/climate-prosperity/the-economic-impacts-of-climate-change-for-canada/paying-the-price