Why this is important to Wisconsin businesses: Wisconsin companies involved in infrastructure, clean water technology, cooling technology, or wildfire preparedness could find opportunities for their products and services.
Canada’s government has released its first National Climate Adaptation Strategy, calling on all residents “to raise our game and to work together to match the magnitude of the climate threat.”
The plan lays out five main objectives:
- Reduce the impact of climate-related disasters
- Improve health and well-being
- Protect and restore nature and biodiversity
- Build and maintain resilient infrastructure
- Support the economy and workers
The need for a comprehensive, unified, immediate effort is critical, the government says, as Canada is already experiencing extreme heat, floods, and wildfires because of climate change. Canada’s climate is warming twice as fast as the global average, and three times faster in its northern region.
The government is pledging $1.6 billion in new funding to help cities and towns build roads and bridges that can withstand flooding. It will also ensure that Canadians have access to safety information during wildfires and will provide indigenous communities with health initiatives related to climate change response.
The new allocation adds to the total of more than $8 billion that the Canadian government already committed to respond to climate change.
In 2018, Canada launched the Disaster Mitigation and Adaptation Fund to invest in infrastructure projects aimed at communities that are impacted by natural disasters caused by climate change. In addition to the federal plan, separate provincial and territorial action plans will continue efforts on their shared priorities.
According to the Insurance Bureau of Canada, $5.3 billion a year in public and private funding is needed to deal with the impact of climate change in Canada.
Wisconsin companies involved in climate change solutions may find this to be a good time to seek potential opportunities in Canada.
A conference dealing with climate change, the Adaptation Futures Conference, will be held in Montréal Oct. 2-6, 2023. Ouranos, a collaborative Quebec climate hub, is presenting the event in collaboration with the World Adaptation Science Programme and the Canadian government.