Thank you.
I'm going to turn to Mr. Sohi. It's good to see you again, Mr. Sohi. I think the last time I saw you before committee was in natural resources. Mrs. Stubbs was there too, so it's a bit like old times.
Thank you for bringing up the topic of climate adaptation. We have had a series of serious weather events in Canada. Hurricane Fiona hit the Atlantic provinces, with damages that will probably end up in the billion-dollar range or more. We had a massive derecho thunderstorm in the spring, tracked from Windsor to Quebec City, which caused similar amounts in damages. I'm from British Columbia, where we had a horrific summer last year, with a heat dome that killed over 600 people and fires that destroyed towns, etc.
There's a brand new report out recently from the Canadian Climate Institute that really goes in depth on the financial impact of climate change on Canada. Just in the short term, in 2025, they're predicting that we'll add $25 billion of extra costs to the Canadian economy, and that will rise to $100 billion annually by 2050.
It all comes down to the fact that we have to get serious about climate adaptation. We're living this right now.
You mentioned what Edmonton is doing. Could you expand on what the City of Edmonton is doing, and what kind of help they're getting from other levels of government? Right now, I think the federal government is woefully inadequately funding climate adaptation to help communities like yours and smaller communities, like the ones mentioned in Saskatchewan.