Cost of Climate Change

Canada will experience some degree of climate change, even if emissions of greenhouse gases are reduced. It is important to understand the magnitude of these impacts for policy reasons.

Previously, most research has been on understanding the biophysical impacts of climate change. It is important that these results be augmented by studies that will estimate economic and social impacts resulting from the biophysical to understand how climate change will affect the Canadian economy and our competitiveness. There is a need to expand assessments of vulnerability to climate change impacts to all areas of Canada and to develop increased awareness of the economic impacts of climate change, and how these impacts will be distributed across Canada.

The Environmental Economics Branch is working with departmental scientists and economists, and with officials from other government departments, to stimulate Canadian research on the economic impacts of climate change.

As part of this initiative the Environmental Economics Branch and Natural Resources Canada recently co-sponsored a workshop to examine the influence climate change may have on the Canadian economy.

Contacts: Lynda Danquah | Timothy Folkins