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The Cost of Climate Adaptation

The Federation of Canadian Municipalities (FCM) and IBC have partnered on a new report that demonstrates the urgent need for new investments in local climate adaptation – and the areas where that investment is needed most. 

According to the report’s findings, avoiding the worst impacts of climate change at the municipal level will cost an estimated $5.3 billion per year shared amongst all three orders of government. Those investments are critical to helping local communities adapt to the changing climate, and to reduce risk from extreme weather.

FCM and IBC are calling on all parties to commit to a two-step approach to build community resilience:

  • Unlock ready-to-go projects, by immediately topping up the Disaster Mitigation and Adaptation Fund by $2 billion through 2023-24.
  • Create longer-term federal tools—no less than $1 billion a year for 20 years—engaging with municipal and other partners to determine the full scale of need.