According to Natural Resources Canada, “There is some evidence and much speculation on ways that climate change may affect climate-sensitive sectors of an economy.” (2007)
So, as we read and discussed all the blogs, we understand that mostly all the planet affected by climate change. Nowadays, Canadian’s economy facing a high cost from the consequences of climate change which happening right now. Moreover, the government and the country have to do anything quickly to help their economy and to reduce the financial price.
As we know that Canada is a country that depends mostly on its own natural resources, so the economy impact might be severe; and there are many consequences that happen in Canada’s economy right now and here are some examples:
* In the West of the country, rising the temperatures in the ocean have weakened economically on the quality of the salmon species there.
* * According to a study done by University of Manitoba in 2001, the drought cost the Canadian economy more than 5 billion $ in the losses of its agriculture.
* * * In British Columbia the forests there have been destructed by the mountain pine beetle, which due to unusually mild winters. According to the BC Ministry of Forests and Range, as of 2009 the cumulative area of provincial Crown forest affected was about 163,000 square kilometres, an area of timber more than five-times the size of Vancouver Island. The value of these trees is in the billions of dollars.
* * * * Furthermore, the mining industry in Canada is also susceptible to climate change, and reduced water levels is an example of it.
To sum up, in order to save Canada’s economy from destroying, we have to have a great solution for climate change that we are facing today which will lead Canada to receive lots of economic benefits.