Environment Committee on Feb. 3rd, 2026

[Bruce Fanjoy, Liberal, Carleton, ON]

One of the things that concerns me with respect to industry and failing to adapt to changing markets, changing technologies, is that, ultimately, unless we adapt, much like in the natural world, certain industries are going to be less and less competitive.

How do we change the mindset amongst industry to see the opportunities in adapting to a new world, recognizing the science that we can't continue to increase levels of carbon dioxide in the atmosphere without ultimately costing us more than we can afford? How do we get that message through?

[Kiera Taylor]

I believe the message that climate change is a major threat to the insurance industry is well understood throughout the industry. Investors for Paris Compliance has been trying to communicate the necessary next steps as a result of that for the past couple of years via resolutions, direct engagements and some complaints to regulators.

Part of the problem is that no corporate actor or industry wants to take that responsibility. Unfortunately, that means that it's inevitable then that this type of litigation will probably get somewhat messy. It will stir up the insurance industry if nothing is done before then.

[Bruce Fanjoy, Liberal, Carleton, ON]

Thank you.

[The Chair, Liberal, Angelo Iacono]

I would like to thank the witnesses for their testimony today. They are excused.

We will quickly proceed with the five study budgets to be adopted.

Is it the pleasure of the committee to adopt a budget in the amount of $500 for the study of supplementary estimates (B) 2025-26?

[Some hon. members]

Agreed.

[The Chair, Liberal, Angelo Iacono]

Is it the pleasure of the committee to adopt a budget in the amount of $1,500 for the study of the 2025 spring and fall reports of the commissioner of the environment and sustainable development?

[Some hon. members]

Agreed.

[The Chair, Liberal, Angelo Iacono]

Is it the pleasure of the committee to adopt a budget in the amount of $8,250 for the study of Bill C-241, an act to establish a national strategy respecting flood and drought forecasting?

[Some hon. members]

Agreed.

[The Chair, Liberal, Angelo Iacono]

Is it the will of the committee to adopt a budget in the amount of $1,000 for the freshwater study?

[Some hon. members]

Agreed.

[The Chair, Liberal, Angelo Iacono]

Is it the will of the committee to adopt a budget in the amount of $1,000 for the study on the subject matter of Bill C‑15, an act to implement certain provisions of the budget tabled in Parliament on November 4, 2025?

[Some hon. members]

Agreed.

[The Chair, Liberal, Angelo Iacono]

Perfect. Everything has been adopted.

Lastly, just to give you a heads-up, on Thursday, February 5, we're looking at Bill C-15. On February 10, we will be going back to extreme weather, with government officials. On February 12, we will be looking at recommendations for Bill C-15, if need be. We also have the ERP draft report—the emissions reduction plan clause-by-clause that's coming up.

With respect to this study, we have two more meetings. Would that suffice with respect to witnesses? We usually do 24, more or less, but we're going to be short one or two. Is that fine?

[Some hon. members]

Agreed.

[The Chair, Liberal, Angelo Iacono]

Great. You can look at the witness list, but we already have witnesses lined up for February 10 and 24. If anything, you can make modifications to the list for February 24.

[David Bexte, Conservative, Bow River, AB]

Are the gaps at the end?

[The Chair, Liberal, Angelo Iacono]

Yes.

We will distribute the list of what's left and who's coming next. If there are any changes, we can do them ahead of the game.

This meeting is adjourned.