There are times – hopefully many – when threats of ecological degradation and weather destabilization, and the simple, hopeful notion of leaving a better world for future generations, are enough to inspire action. At other times, however, we require an appeal to the all-powerful bottom line. Money talks, to put it bluntly, and a new report released by the National Round Table on the Environment and the Economy (NRTEE) recognizes this important truth, and attempts to frame climate change in terms that will get policy-makers to sit up and listen: dollars and cents, costs and benefits. The report, entitled Paying the Price: The Economic Impacts of Climate Change for Canada is the first in-depth exploration of what climate change will cost Canadians, and some of the numbers are pretty daunting.

The report, for instance, examines the effects of climate change on the forest industry, and finds that, in a scenario of high climate change and rapid economic and population growth, Canada could see a reduction in its GDP of $17.4 billion, or 0.33%, as a result of reductions in timber quantity due to climate change. Ontario, with its rich stocks of northern boreal forest, is hit hard, suffering a loss of $7.4 billion. Cumulative costs of climate change on the Ontario forest industry could hit $75 billion by 2080 if we do nothing to adapt.

In our cities, climate change will increase summer temperatures and worsen air quality, leading to increased mortality and illness. An unhealthy city is an expensive city. In Toronto, the cumulative costs of premature mortality risk due to heat and air quality impacts from 2010-2100 could hit $96 billion by 2080, and increased hospital visits due to reduced air quality could cost Toronto’s health care system $285 million over the same time period.

The NRTEE report closes each chapter with strategies for adaptation, and finds, with few exceptions, that the costs of implementing the strategies are significantly offset by the economic benefits of lessening the impacts of climate change. Proactive adaptation makes fiscal sense, which is to say nothing of the many non-economic co-benefits. These benefit-to-cost ratios reinforce the position I’ve taken in recent blogs and reports on why we need to put a price on carbon; it will help to decarbonize Ontario’s economy while hastening the transition to a clean-energy future.

There is only so far that the quantification of environmental impact can take us. We reach a point where the worth of our natural world simply cannot be expressed through market transactions. As the report explains, culture, well-being, sense of place, and health are treasured entities that largely exist outside of economic valuation. That said, in terms of getting our attention and inspiring action, this report is very meaningful. By 2075, climate change could cost this country $221 billion per year. Those are stakes that anyone can appreciate, and represent a compelling call to action.

Memories from the destructive blow of Hurricane Hazel on Southern Ontario on October 15, 1954, still linger. Torrential rain devastated many communities. Bridges, roads and railway lines were washed out. Homes were flooded or collapsed from the force of raging water overflowing from swollen creeks and rivers. The biggest tragedy, however, was the loss of human life. More than 80 Ontarians lost their lives in this catastrophic event.

Hurricanes and severe storms are often described as rare and extreme events; somehow this suggests they are out of our hands and that it is okay to merely hope they won’t happen. Unfortunately, they do happen. I grew up in Timmins, and played in Town Creek. I recall the Timmins Storm of 1961 that ripped roads apart and drowned a family in their home. The Peterborough storm of 2004 overwhelmed the city’s storm sewer system and left most of the city under a meter of murky water. We are wiser to accept that these extreme weather events will happen and must be planned for.

Planning for severe storms will become even more important in the future under a changing climate, as the severity and frequency of such events are expected to increase. In my 2009/2010 Annual Report, I called on the Ministry of Environment (MOE) for swift, coordinated and decisive action on “Planning for Stormy Weather.�

MOE has recognized the need for a policy framework to support resilient municipal stormwater management systems. The ministry has also identified the need for updating existing stormwater management guidelines and for a concerted planning effort by a number of provincial ministries, municipalities and conservation authorities.

For this important planning work, we will be relying on the ongoing good work of conservation authorities. Conservation authorities manage flood control and prevention infrastructure and work closely with provincial, federal and municipal levels of government to prepare for and respond to extreme weather events. They deliver programs that prevent some $100 million in flood damages every year. To continue their important work on mitigating flooding risks, CAs will need adequate funding. For over a decade, provincial funding for these programs has remained steady at about $7.6 million per year, eight times less than the early 1990s. It is estimated that an additional $14 million per year is needed from the province.

More storms are coming our way; will we be prepared? Will we have the resilience to weather them?