The economic costs of BC’s extreme weather in 2021
November 30, 2022
BC's severe climate events in 2021 cost the province's economy billions more than widely reported estimates.
This new report, undertaken by the CCPA–BC in partnership with Vancity, provides a first-ever estimate of the total economic costs associated with the 2021 heat dome, wildfires, floods and landslides, beyond the typical focus on insured damages to property and cleanup costs to governments. The study finds the total costs to be between $10.6 billion and $17.1 billion.
The estimates include lost income for workers due to business closures, lost productivity, and specific impacts on communities, particularly to the vulnerable and marginalized.