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The Insurance Bureau of Canada (IBC) is voicing its support for Ontario’s new environment plan.
The government of Ontario recently released “Preserving and Protecting our Environment for Future Generations: A Made-in-Ontario Environment Plan”, a plan to improve the province’s resilience to disaster, preserve natural infrastructure, and disclose information on the effects of climate change.
IBC extended its congratulations for the government for its commitment to not only disaster resilience, but also to raising awareness of the impact of climate change.
“Climate change is a clear and present danger affecting Ontarians now,” said IBC Ontario vice-president Kim Donaldson. “So far this year, insured damage from severe weather has cost over $1.2 billion in Ontario alone, but insured losses are only part of the picture. Taxpayers also bear part of the burden.”
“IBC has advocated for a province-wide risk assessment, educational initiatives to help Ontarians protect their homes from basement flooding, and improvements to building codes,” the vice-president added. “We congratulate the government for moving forward on these important initiatives.”
The bureau has strongly supported initiatives that address the issues of climate change. In October, the bureau supported a federal panel’s report on sustainable finance.
