Canada faces huge global warming costs
By Michel Comte, AFP
29 September 2011 The economic impact of climate change on Canada could climb to billions of dollars per year, according to a study published Thursday by a policy group that advises the Canadian government. The report, Paying the Price: The Economic Impacts of Climate Change for Canada, by the National Round Table on the Environment and the Economy estimates that warming-related costs may rise to $5 billion per year by 2020, and between $21 and $43 billion per year by 2050. It points to a reduced timber supply, storm surges and flood damage due to rising sea levels in coastal areas and poorer air quality in cities leading to more hospital visits. And it calls on Ottawa to invest more in generating and disseminating research and detailed analysis to help communities adapt to climate change to try to avoid some of the added costs. Canada contributes less than 1.5 percent of global carbon emissions. However, “increasing greenhouse gas emissions worldwide will exert a growing economic impact on our own country, exacting a rising price from Canadians as climate change impacts occur here at home,” the study said. “Climate change will be expensive for Canada and Canadians.” For example, warmer temperatures and higher levels of carbon dioxide in the atmosphere may accelerate forest growth in some areas. However, the gains are expected to be more than offset by tree losses from increased forest fires, pests, and extreme weather events including wind and ice storms. […] Losses in the sector due to climate change, the study concluded, could rise to $17 billion per year, with westernmost British Columbia province’s forest-reliant economy likely suffering the most. […]
