Attribution science has become increasingly precise in linking extreme weather events to climate change, and a new tracker from the Canadian Climate Institute (CCI) is emphasizing the urgent need for proactive measures to limit the damage caused by climate-fueled disasters. The online tool provides real-time data on the financial toll of wildfires, floods, and droughts across the country, using media reports to paint a stark picture of the growing costs.
This summer alone, Toronto and Jasper, separated by 3,400 kilometers, faced significant climate-related losses. According to the Toronto Star, a single afternoon of heavy rain in Toronto on July 16 could result in damages exceeding C$1 billion. Meanwhile, as reported by CBC and confirmed by CCI’s tracker, the wildfire that ravaged Jasper National Park caused $880 million in insured losses.
CCI’s tracker links to 60 news stories and trade publications, covering the past 12 months of climate disasters. While the tool currently tracks flooding, wildfires, and droughts, extreme heat is not yet included. However, the tool represents just a fraction of the real damages, as “the impacts of climate change are difficult to calculate and slow to tally,” the institute explains.
The rise of attribution science, which assesses how climate change influences extreme weather events, further supports the findings. According to CCI, over 70% of completed studies on extreme weather have identified climate change as a significant driver. Yet, the institute warns that while the science catches up to the pace of disasters, the trends are undeniable without proactive adaptation and emission reductions, climate-related costs will continue to skyrocket.
The financial toll is significant, with climate change expected to cost the Canadian economy an estimated $25 billion by 2025. CCI Adaptation Research Director Ryan Ness stresses the urgency of adaptation, noting that individual households are already losing $700 annually to climate-related costs. However, every dollar invested in adaptation could return between $13 and $15 in benefits.
As climate disasters compound some communities facing both wildfires and floods in quick succession the need for action has never been clearer. “We need to reckon with the price tag for these massive disasters and do everything we can to control the damage,” said Ness. CCI’s new tracker is a critical tool in that effort, highlighting the measurable and mounting costs of inaction.