B.C. to bear brunt of structural losses due to wildfires and floods [Video]

British Columbia is facing billions of dollars in projected structural losses due to wildfires and floods.

A first-of-its-kind study in Canada published by the Canadian Climate Institute revealed that building new homes in flood and wildfire-prone areas could cost billions and threaten affordability.

“We’re looking at over a billion dollars for both flooding and wildfire losses on an annual basis in B.C. in a worst-case scenario,” said Sarah Miller, research lead for the study.

“As the government moves to accelerate housing supply we think the best and easiest move is to stop worsening the problem, by ensuring that the new homes are built in safer places. We know that is the most effective approach because you’re addressing the root of the risk,” said Miller.

The Thompson-Okanagan region is no stranger to massive damages caused by natural disasters. According to the Insurance Bureau of Canada, wildfires in the Okanagan and Shuswap areas caused about …