Coalition seeks firmer adaptation plans

Sept. 22, 2022 — A COALITION spearheaded in large part by Canada’s p&c insurers says a proposed national adaptation strategy is too vague and presents goals without any plans to address them.

Climate Proof Canada, which was formed in June 2021, said earlier this month that the strategy expected to be announced before a UN conference this fall in Egypt lacks short-term targets and measures to prepare Canadians for the challenges presented by climate change.

“While the longer-term impacts of the climate crisis must be addressed, considering the increasing number of extreme weather events already occurring across Canada, we cannot wait until 2030 to limit the impacts of climate change in this country,” the coalition said in a release.

The members of Climate Proof Canada are recommending the National Adaptation Strategy focus on setting more realistic targets as part of a five-year implementation plan starting in 2023 to protect those living in Canada from extreme heat, flood and wildfires.

The coalition, which includes several insurers, the Canadian Association of Mutual Insurance Companies, the Insurance Brokers Association of Canada, the Insurance Bureau of Canada and the Property and Casualty Insurance Compensation Corp., said a national adaptation strategy will be successful only if it sets clear targets that drive short-term actions.

Members of the coalition also include Aon, Aviva, Co-operators, Desjardins, Intact Financial Corp., TD Insurance, Travelers, Wawanesa and Zurich Canada.

The 2022 UN Climate Change Conference, which is also referred to as COP27, is slated for Nov. 6-18 in Sharm El Sheikh, Egypt.

Climate Proof Canada has called for several steps to improve resiliency.

It says risk reduction actions are needed to address extreme heat, wildfire and flooding, including protecting Canada’s most vulnerable communities.

The coalition has also called for infrastructure investments and managed retreat as approaches to flood risk reduction.

Its other recommendations include addressing the impact of extreme heat, wildfires and flooding.

(For more coverage of Canada’s adapation progress and p&c industry news and trends, please choose the ‘Subscribe’ tab on our main page or email for more information).