WATCH: SFU’s Dr. John Clague discusses a new report on the costs of flooding.
Invest now or pay later. That’s the key finding of a new Simon Fraser University study on the costs of flooding related to climate change.
Extreme weather is getting more extreme as temperatures rise, say SFU researchers, who are warning all three levels of government to act now to mitigate billions of dollars in potential damage from overland flooding in Canada.
“You’re going to face a disaster, that’s what we know,” said Dr. Benoit Laplante of the SFU Adaptation to Climate Change Team. “The cost of doing nothing is much, much, much higher than the cost of doing something.”
Laplante points out that there is still time to implement changes.
“If the sea level rises by one metre, it’s not going to happen tomorrow,” he said. “It’s going to happen over the next 100 years or so. So we have time, fortunately.”
The report contains a number of recommendations, including:
-Long-term strategies for aging infrastructure
-Updating flood maps
-Offering flood insurance
-Changes to disaster and financial assistance
“For instance, in Cache Creek I think the province doled out about $350 million because there was not insurance available for the people who were impacted,” said Deborah Harford of the SFU Adaptation to Climate Change Team.
“That money doesn’t come with any policy requirements. You can take the money and go to Mexico. Or you’ll probably build your house back right where it was to the same standard it was built to. That’s throwing taxpayer money into a hole because the same thing’s probably going to happen again.”
Researchers are not suggesting new taxes. They suggest redistributing federal and provincial money so local governments get a bigger piece of the pie for planning since they’re the ones paying.
-with files from Rumina Daya
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