Canadian insurer commits $4.25m to climate change, flooding solutions

Canadian insurer commits $4.25m to climate change, flooding solutions

Canadian insurer commits $4.25m to climate change, flooding solutions Intact Financial Corporation, one of the largest providers of property and casualty insurance in Canada, has donated $4.25m to the University of Waterloo to research innovative adaptation solutions to climate change risks.
 
The Intact Centre on Climate Adaptation (ICCA) opened its doors this week in the Faculty of Environment at the University of Waterloo.
 
Under the leadership of Professor Blair Feltmate, university researchers, consultants, industry specialists and NGOs will monitor applied research developments on adaptation solutions and technologies from around the world; and develop adaptation technologies and practices that are most promising to reducing climate-related extreme weather risks facing Canadian homeowners, communities, industries and governments.
 
The ICCA will also launch a national Home Adaptation Audit Program (HAAP) to assess the vulnerability of Canadian homes to flood damage, and make specific recommendations to help homeowners across the country avoid costly damage from extreme weather.
 
“While political leaders from across the world gather for COP21, we should remind ourselves that climate change is already a reality here in Canada. We must step up our efforts towards building strong, prosperous, resilient and sustainable communities,” said Charles Brindamour, CEO of Intact Financial. “Our partnership with Waterloo’s Faculty of Environment will foster innovative solutions that will reduce the physical, financial and social impacts of extreme weather.”
 
“Addressing the effects of climate change and extreme weather is a pressing challenge for everyone. This unique national partnership applies Waterloo’s research excellence in a way that serves communities across the country,” said Feridun Hamdullahpur, president and vice chancellor of the University of Waterloo.