Canada launched its first-ever national climate adaptation strategy on Tuesday , aimed at reducing the risk from extreme weather events like floods and wildfires and mitigating slow the impacts of fossil fuel-driven global warming, including melting permafrost.
By 2030, average annual losses from disasters are forecast to reach C$15.4 billion , according to the federal government, while the Canadian Climate Institute estimates climate impacts will slow Canada's economic growth by C$25 billion annually by 2025, equal to 50 per cent of projected GDP growth. "The strategy aims to transform the way governments, communities, and Canadians work in partnership to prepare, and reduce risks of climate change through coordinated and ambitious action," federal Environment Minister Steven Guilbeault said in a statement.
A C$164 million investment to improve flood mapping is already underway, and the government has committed more than C$2 billion since fall 2022 to adaptation projects.