Canadian business is vulnerable to climate change and the increasing frequency and intensity of natural catastrophes, Lloyd's Chairman Peter Levene warned in a speech to the Vancouver Board of Trade today in Vancouver.
Lord Levene, sounding an alarm he has voiced previously, called on governments, businesses and insurers to "do more to understand and adapt to the implications of global warming."
Based on current models, he said, Canada may have to deal with flooding of low-lying lands on its seacoast, a shrinking Artic ice cap, reductions in Great Lakes water levels, permafrost thawing and reduced river flow on the prairies.
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