How to reduce the costs of climate change to society? Micro and macroeconomic perspectives for choosing adaptation options under uncertainty
Description (webinar 1)
The aim of this presentation is to explore possible solutions and research prospects for improving public and private programs to reduce the financial impact of flooding.
Strategic relocation, immunization and insurance to cope with floods: issues, solutions and research prospects
Presentation by Mathieu Boudreault and Danielle N'Cho (UQAM)
Summary
Flooding is the biggest natural disaster in Quebec and Canada. Climate change, rapid urbanization, aging infrastructure and inflation have all contributed to increasing flood-related costs across the country. The exceptional floods that occurred in the spring of 2017 and 2019 had major impacts and highlighted the vulnerability of the built environment and the need to rethink the flood risk management model in Canada.
The objective of this presentation is to explore possible solutions and research perspectives aimed at improving public and private programs to reduce the financial impacts of flooding. First, the speakers will present the Quebec and Canadian context of flood financial management. They will then apply the microeconomic theory of choice under uncertainty to determine when and where relocation or raising the second floor may be optimal. Finally, they will look at flood insurance, an important instrument for increasing the resilience and awareness of riverside populations in the face of flood-related risks.
Description (webinar 2)
The purpose of this presentation is to share some of the findings of the latest report of the Coûts des changements climatiques series from the Canadian Climate Institute.
Damage Control: Reducing the Costs of Climate Impacts in Canada
Presentation by Julien Bourque (Canadian Climate Institute)
Summary
The purpose of this webinar is to share some of the findings of the latest report in the "Costs of Climate Change" series produced by the Canadian Climate Institute. This report provides the most comprehensive assessment to date of the consequences of accelerating climate change on the economy and on people's lives, well-being and prosperity.
Taking all 16 impact groups into account, the Institute has assessed 84 scenarios under:
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2 global emissions scenarios
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7 downscaled climate models
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3 asset growth scenarios
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2 adaptation scenarios
While this analysis presents a much more detailed picture than previous studies, its results represent only the tip of the iceberg of the extent of damage to Canada's economy and society.
