IBC responds to federal government’s national climate adaptation plans

IBC responds to federal government’s national climate adaptation plans | Insurance Business Canada

IBC responds to federal government’s national climate adaptation plans

The Canadian federal government recently released a report which detailed its progress towards climate adaptation and also committed to finalizing a national climate resilience strategy by next year – actions that the Insurance Bureau of Canada (IBC) has lauded.

The federal report, entitled Adapting to the Impacts of Climate Change in Canada: an update on the National Adaptation Strategy, outlines how the federal government will continue to develop its nationwide climate adaptation strategy. To identify the strategy’s objectives and principles, the government is consulting with provinces and territories, non-governmental organizations, the private sector, Indigenous representatives, and youth organizations.

By engaging with stakeholders and partners, the federal government hopes to release a finalized National Adaptation Strategy in fall 2022.

Ottawa’s update report comes days after the United Nations Intergovernmental Panel on Climate Change (IPCC) issued a “code red for humanity” warning for worsening extreme weather due to inaction. The IPCC report also urged the entire world to cut emissions by 50% by the year 2030 and by 100% by 2050 – failure to do so would mean it would no longer be possible to prevent a 1.5-degree global warming.

When the federal government released its update on its climate strategy yesterday, IBC immediately responded with a statement.

"Given the ‘code red for humanity’ warning, today’s federal government announcement on adaptation is extremely timely and critical – Canada needs to accelerate work on climate defence with the best minds our country has to offer,” said IBC vice president of federal affairs Craig Stewart. “IBC has joined a growing chorus of voices encouraging the federal government to take action now to create a culture of preparedness and build a more disaster-resilient country.”

Read more: Revealed – the insured damage counts of two Canadian catastrophes

IBC is a member of Climate Proof Canada – a coalition of organizations and groups that is calling on all levels of government to prioritize climate defence and improve the climate change resilience of communities. In its latest reports on recent natural disasters, IBC has constantly urged everyone to help create a culture of preparedness against future disasters.