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Climate change is costing taxpayers billions in losses

Wednesday, October 25, 2017

An expert from the University of Waterloo is available to speak about a new report from the U.S. Government Accountability Office that says the U.S. government has spent more than $350 billion on disaster-assistance programs and losses from flood and crop insurance.

Jason Thistlethwaite — School of Environment, Enterprise and Development

Jason Thistlethwaite works directly with government and business leaders in the insurance, banking, real estate, building, and investment industries to research innovative strategies designed to reduce the economic impacts of extreme weather and climate change. He is an assistant professor and member of the Interdisciplinary Centre on Climate Change explores the role of insurance and government risk-transfer in promoting climate change adaptation and reducing economic vulnerability.

“Taxpayers continue to bear the burden for the costs of climate change. Each year in Canada, Canadians pay $600 million out of pocket for flood damage — the most significant climate-change risk we face. 

The solutions are not complicated nor expensive. Tell people about their risks, make smarter planning decisions, and give people a financial incentive to move their property out of harm’s way.” 
— Jason Thistlethwaite

The GAO is an independent agency that reports Congress. It released the report this week.

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Media contact:

Matthew Grant
University of Waterloo
(226) 929-7627
uwaterloo.ca/news
@uwaterloonews

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