The Canadian Press
Ontario’s financial watchdog says the effects of climate change are expected to cost the province an additional $1.5 billion a year on average for the next few years just to maintain public transportation infrastructure.
A report released Thursday by the Financial Accountability Office says that over the next nine years maintaining this infrastructure would have cost $11 billion a year if the climate were stable, but climate-related costs will push it to around $13 billion. dollars by 2030.
The report says that in the long term, if global emissions peak by mid-century, climate hazards will increase infrastructure costs by an average of $2.2 billion per year, without any climate adaptation, and if emissions continue to increase beyond 2050, these costs will increase. $4.1 billion a year on average.
The FAO says adapting transport infrastructure to withstand extreme rainfall, extreme heat and freeze-thaw cycles would be much cheaper.
The report says adaptation would add between $1.4 billion and $2.9 billion per year by the year 2100.
The FAO says roads, bridges, major structural culverts and railways owned by municipal and provincial governments in Ontario are valued at $330 billion, most of it owned by municipalities.