Report predicts weather could cost Canada's economy $139-billion over next 30 years


A new climate-based analysis predicts floods, droughts and major storms could cost Canada's economy 139 billion dollars over the next 30 years.
The report published today by global engineering and architecture services firm G-H-D is warning governments and businesses they need to become more resilient in the face of climate change.
The 139- billion-dollar figure takes into account the cost of physical damage and the economic losses from forced factory shutdowns, washed out roads and power outages.
The report says manufacturing and distributing will be hit hardest, followed by the retail sector, banks and insurance companies, energy companies and utilities and agriculture.
G-H-D's Canadian water lead Don Holland points to the 2021 floods in British Columbia, which temporarily cut off rail and highway links between the Port of Vancouver and the rest of Canada and disrupted supply chains across the country.
Droughts in Europe, China and the United States this summer are causing massive problems to hydroelectric production, river shipping routes and public water supplies.