In response to the Government of Canada announcing yesterday that it would implement a carbon pricing system, the Insurance Bureau of Canada (IBC) issued a statement congratulating the government “for continuing to make climate change a top priority.”

The government proposed a pan-Canadian approach to pricing carbon pollution; under this new plan, all Canadian jurisdictions will observe carbon pricing by 2018. The benchmark for pricing carbon emissions will be set at a level that would help Canada meet its greenhouse gas emission targets.

“IBC congratulates the Government on today’s carbon pricing announcement,” said IBC president and CEO Don Forgeron.

“Severe weather is already costing Canadian taxpayers hundreds of millions of dollars annually. This is an ambitious approach that takes the first steps in limiting future damage. We also support the government’s plans to fund strong resilient infrastructure and implement adaptation strategies which address the real, immediate effects of climate change.”

A release by IBC stressed how climate change has brought about more inclement weather, with its mounting frequency and severity having a significant impact on Canadians. The bureau asserted that Canada needs to develop a “culture of disaster risk reduction that resonates with consumers and engages all levels of government, businesses, and institutions.”

“Climate change is affecting our country both environmentally and economically,” explained Forgeron. “We will continue to work with the federal government in the areas of mitigation, adaptation, and emergency management – all of which form the basis of a comprehensive climate strategy.”

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