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Building new homes in the path of floods and wildfires could cost billions, threaten affordability: report

  • Building new homes in areas prone to flooding and wildfires could cost billions, with British Columbia facing the highest potential costs at $2.2 billion under worst-case scenarios.
  • The Canadian Climate Institute's report highlights that over 540,000 homes could be built in flood-prone areas, and 220,000 in wildfire-risk zones by 2030.
  • Research lead Sarah Miller emphasizes the need for policies to consider climate hazards in housing development to mitigate potential losses.
  • Miller states that a small proportion of homes in high-risk areas could account for nearly 80% of the projected losses across Canada.
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Global NewsGlobal News

B.C. to bear brunt of structural losses due to wildfires and floods

A first-of-its-kind study in Canada has revealed that building new homes in flood and wildfire-prone areas could cost billions and threaten affordability.

·Toronto, Canada
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Vancouver SunVancouver Sun

Climate change: Report warns new housing in B.C. high-risk zones could cost billions in damages

The province should steer housing investment to low-hazard areas, as financial losses from new builds in flood and wildfire zones in B.C. are projected to soar over $2 billion a year by 2030 — the highest in Canada — a new climate change report says.

·Vancouver, Canada
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Victoria NewsVictoria News
+14 Reposted by 14 other sources

New homes in areas prone to flooding and wildfires could cost B.C. billions

Just 3% of new builds could contribute to 80% of the losses across the country

·Victoria, Canada
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BenzingaBenzinga

Building new homes in the path of floods and wildfires could cost billions, threaten affordability: report

First-of-its-kind analysis shows significant financial risks from climate change-fuelled disasters unless a small proportion of the new homes needed by 2030 are built out of harm's way TORONTO, Feb. 6, 2025 /CNW/ - Governments across Canada are racing to build more housing to improve affordability. Yet a new study has found those efforts risk putting hundreds of thousands of homes in harm's way, and adding billions of dollars in costs each year,…

·New York, United States
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municipalinfonet.communicipalinfonet.com

Canadian Climate Institute - Building new homes in the path of floods and wildfires could cost billions, threaten affordability: report

First-of-its-kind analysis shows significant financial risks from climate change-fuelled disasters unless a small proportion of the new homes needed by 2030 are built out of harm's way.Governm. . .

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Halifax ExaminerHalifax Examiner

New Canadian report says building new homes in areas at high risk of flood or wildfire could cost billions - Halifax Examiner

The 'first-of-its-kind analysis' shows significant financial risks from climate change-fuelled disasters unless a small proportion of new homes needed by 2030 are built out of harm’s way.

·Halifax, Canada
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Benzinga broke the news in New York, United States on Thursday, February 6, 2025.
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