New Study on Limiting Flood Risk and Damage by Natural Means
September 21, 2018
The financial impacts of climate change and extreme weather events are being felt by a growing number of homeowners and communities across Canada.
The Insurance Bureau of Canada has recently published a report that evaluates the use of conservation and restoration of ‘natural infrastructure’, such as ponds, wetlands and vegetated areas to limit flood risk and damage.
The report also provides suggested cost-effective action for addressing these, to retain what is there now and/or restore what has been lost over time. Examples are given of such projects in various areas of Canada.
Natural infrastructure projects can also offer other valuable environmental and social benefits, including creation of wildlife habitat, adding attractive elements to a community, and improving biodiversity. This is in addition to reversing the ongoing loss of natural resources and assisting government and industry in meeting climate-related commitments.
A Framework is proposed for achieving this, by government, investors and practitioners.
Read the full report.