Today @ClimateInstit released a major report on the costs of #climatechange to Canada's economy. In a nutshell, climate change is a major drag on the 🇨🇦 economy and makes life less affordable for people. 1/ climateinstitute.ca/reports/damage…
Far from being a climate winner, we find that our economy is highly sensitive to #climatechange and the costs are wide-ranging. Climate impacts will hurt almost every sector, slowing growth, reducing productivity, and resulting in job losses 2/
#climatechange will hit households hard, making life even less affordable. Incomes decline, the price of everyday items rises as supply chains are disrupted, and govt taxes must increase to pay for higher climate damages. But this future is not inevitable 3/
Proactive #adaptation measures and moving to a low-emissions scenario can dramatically reduce costs, by up to 75% if taken together. Moreover, we find that #adaptation is a sound investment that can provide a return of $13-$15 per $1 spent 4/
As govts confront mounting climate costs, there is an urgent need to reduce emissions and invest in #adaptation. We can't afford *not* to make these investments if we are to protect people & the economy from the worst climate impacts. /end
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