Taking climate change seriously

And now, because it’s going to cost serious amounts of money, it will be.

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UPDATE from The Globe:

Losses from the recent flooding in Alberta and Ontario have hit Toronto-Dominion Bank hard.
The bank’s release of charges expected to be included in its third-quarter earnings report revealed that about one-quarter of those charges are related to flooding.  …
Although the market will probably to accept charges from the storm are unusual and the need to strengthen reserves in the wake of regulatory reforms and real estate losses, “the large amount may prove more challenging to digest,” said Mr. Smith.