Thank you, Chair.
Thank you, Minister, for joining us today and for all of your action on the climate. It was great to tour UBC with you, including the futures lab and the UBC botanical garden.
Climate change is one of the most significant economic challenges of our generation. Extreme weather events are already costing Canadians billions each year by damaging homes and critical infrastructure and disrupting local economies. Communities across the country are facing wildfires, floods, heat domes and storms, which hit hardest those who are least able to afford the recovery. These really strain public finances, increase insurance costs and affect everything from food prices to supply chains.
I certainly agree with you that addressing climate change protects our economic future and ensures that Canada remains competitive in this rapidly changing global economy.
We often talk about the costs associated with the regulations on climate, but could you please speak about the economic costs of inaction when it comes to climate change?