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Economy

Cost of future extreme heat events high for humans and the B.C. economy: report

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A new report is painting a bleak picture of the costs of future extreme heat events, both human and financial, if the government doesn’t take action.

The report by the Canadian Climate Institute broke down the costs of the 2021 B.C. heat dome, during which more than 600 people died.

It predicts that factoring in climate change, by 2030 extreme heat could kill more than 1,300 people each year and send 6,000 to the hospital.

The potential financial cost could be $100 million per year in health care and more than $12 billion in annual societal costs.

“Extreme heat is going to get worse. Climate models indicate that sustained temperatures similar to the 2021 heat wave have a 10 per cent chance of reoccurring in B.C. within the next two decades,” the report states.

“By mid-century, B.C. could experience temperatures similar to the heat wave an average of three out of every ten years if global greenhouse gas emissions are not substantially reduced.”

The report states that B.C. is not the only province at risk as many parts of Canada will see a substantial increase in the number of days where heat can harm people and the economy.

“We have to accelerate everything we’re doing to protect people from extreme heat as quickly as possible because the next heat wave could occur at any time as we’re seeing across the country right now,” Ryan Ness with the Canadian Climate Institute told Global News.

“It is the most vulnerable who bear the brunt of extreme heat as they will for many types of climate change impacts.”

A review of the 2021 heat-related deaths in British Columbia made 14 recommendations when it was released last year into preventing similar deaths, including a clearer and more coordinated action plan in the event of another extreme heat event.

The report, produced by the BC Coroners Service recommended that authorities review whether to issue cooling devices such as air conditioners and fans to people most at risk of dying during a heat emergency.

In June, the B.C. government announced it was spending $10 million in funding over three years for free air conditioners for vulnerable residents.

The funds will be administered through BC Hydro as an expansion of its Energy Conservation Assistance Program, Health Minister Adrian Dix said.

The Crown corporation will accept applications from members of the public with a focus on lower-income residents and seniors, and in some cases, health authorities will be able to provide referrals as well. Dix said he expects the program to distribute about 8,000 air conditioners in the next three years.

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Economy

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

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OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

The Canadian Press. All rights reserved.

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Economy

How will the U.S. election impact the Canadian economy? – BNN Bloomberg

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How will the U.S. election impact the Canadian economy?  BNN Bloomberg

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Economy

Trump and Musk promise economic 'hardship' — and voters are noticing – MSNBC

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Trump and Musk promise economic ‘hardship’ — and voters are noticing  MSNBC

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