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IBC congratulates Government of Canada on climate change commitments in Budget 2018
OTTAWA, Feb. 27, 2018 /CNW/ - Today, the federal government tabled the 2018 budget entitled Equality and Growth: A Strong Middle Class. Insurance Bureau of Canada (IBC) congratulates the government for continuing to make climate change and risk mitigation a top priority.
"IBC welcomes the Government of Canada's continued commitment to addressing our changing climate," said Craig Stewart, Vice President, Federal Affairs, IBC. "The investments announced in Budget 2018 will help better equip Canadians to deal with the effects of severe weather. Severe weather is already costing Canadian taxpayers hundreds of millions of dollars annually. By making smart investments in mitigation and adaptation, and by introducing stronger environmental frameworks, Canada is on track to limit future damage while still addressing immediate and current climate challenges. "
The federal budget commits $40 million over five years towards the upgrading and modernization of Canada's weather forecasting infrastructure. Significant investments were also announced towards nature conservancy. The conservation of Canada's wetlands is a key factor in preventing and mitigating flood events across the country.
"Climate change is affecting our country both environmentally and economically," added Stewart. "We will continue to work with all levels of government across the country in the areas of mitigation, adaptation, and emergency management – all of which form the basis of a comprehensive climate strategy."
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 120,000 Canadians, pays $8.2 billion in taxes and has a total premium base of $52 billion.
For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC.
If you require more information, IBC spokespeople are available to discuss the details in this media release.
SOURCE Insurance Bureau of Canada
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