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Canada’s real estate sector needs to own up to climate risks

Following the latest catastrophic weather events, real estate sector needs more disclosure and resilience tools

A week after Hurricane Dorian barrelled toward the east coast of Canada, the full cost of damage to homes and properties up and down the Atlantic coast is still unknown. What we do know is that the climate crisis is making extreme weather events like hurricanes more destructive. It’s also significantly impacting real estate markets across Canada.

From wildfires in B.C.’s interior and Alberta to headline-grabbing flooding in Ottawa-Gatineau, Muskoka and New Brunswick in 2019 alone, properties across the country are feeling the heat of the shifting climate. On Canada’s famously vast ocean coastlines, storm surges and sea levels are impacting communities through both shoreline erosion and direct property damage.

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