Now is the time for pension funds to disclose how they evaluate and proactively manage extreme weather risks inherent in every asset class they own.
It wasn’t supposed to be like this. The government got into the flood insurance business reluctantly, and only after private insurers fled the market because it was too risky and unpredictable.
We’re going to have to understand that bracing for a 100-year storm is maybe going to happen every 10 years now, or every few years,” the PM said.
It is simply a matter of time before all homeowners experience overland flooding, so preparedness should be in place now.
A new report out of the Intact Centre on Climate Adaptation at the University of Waterloo finds all ten provinces and Yukon are not as prepared as they could be for floods.
When looking at the landscape of climate change in the literal sense, we are faced with the advent of severe weather cycles, destructive storms like Hurricane Sandy and rising sea levels threatening to consume vast areas. City and state planners have their work cut out and are using technology to discover future crisis scenarios and their solutions.