As the spring season brings higher flood risk to Canadians, as seen in British Columbia recently, experts say many homeowners remain without adequate insurance to cover extreme weather's damage to their homes. "I would say that Canadians in general are not truly aware of the risks that their homes are exposed to, and the exposure they have to extreme weather events and the potential losses they could experience," said Michelle Laidlaw, associate vice-president of The Co-operators Group Ltd.'s national product portfolio.
Under water: Is the real estate industry waking up to ‘climate risk’?
Perched over a harbour across from the bright lights of Vancouver’s city centre, a massive new residential development is pushing the boundaries of what it means to be climate resilient. The development, called North Harbour, is being built by developer Concert Properties in North Vancouver to a set of novel standards that will mitigate against sea level rise and storm surge.
Hell yes, we should sue Big Oil
Vancouverites were taken aback last week at the news that city council, in a divided vote, passed a motion by Green Party Coun. Adriane Carr to allocate up to $700,000 towards a class action lawsuit against fossil fuel companies. This measure was instantly slammed as a performative stunt and window dressing for the enviro vote as we head into election season.
Climate risk scores could reshape Canadian real estate markets, some experts say
If the house you're about to buy is going to be under water in 30 years, should that be disclosed during the sale? Chris Chopik says "yes." The Toronto real estate agent has been calling for years for a climate risk assessment to be added to real estate listings in Canada the same way that data is readily available on the ease of walking from any address. He said these conversations need to become commonplace and factored into a property's value.