Organization: Insurance Bureau of Canada (IBC), University of Waterloo, Intact Centre on Climate Adaptation, International Institute for Sustainable Development (IISD)

Year of publication: 2018

Type of green infrastructure: Natural Infrastructure, Stormwater Management

Summary: The financial impacts of climate change and extreme weather events are being felt by a growing number of homeowners and communities across Canada. The increase in P&C insurance losses is indicative of the growing costs associated with these events. These losses averaged $405 million per year between 1983 and 2008, and $1.8 billion between 2009 and 2017. Water damage is the key driver behind these growing costs. Fortunately, as documented in this report, flood risk can be limited through conservation and restoration of natural infrastructure features, such as ponds, wetlands and vegetated areas. This report demonstrates how to quantify the benefits and costs of these natural features as a strong complement or a viable alternative to grey infrastructure option for flood mitigation.

Link: IBC-Natural-Infrastructure-Report-2018.pdf 4 MB