The City of Edmonton’s assessment of the net costs of climate change

In 2016, the City of Edmonton began an investigative process to better understand how the local climate has changed historically and how it might change in the future. As part of the process, a multi-sector, stakeholder-led climate vulnerability and risk assessment (VRA) was conducted to measure potential risks and opportunities resulting from these changes. Impacts and costs attributable to 19 climate hazards were assessed, including a range of extreme events (e.g., extreme heat, freezing rain, high winds, heavy rainfall, etc.) and slow-onset changes (e.g., timing of the frost-free period, heating degree days, etc.). The GDP cost for the City of Edmonton imposed by climate change is about $1.6 billion annually by the 2050s, rising to about $3.5 billion annually by the 2080s.

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