Connecting community, finance, and climate risk: Insights from the BC Climate Resilience Summit

At the BC Climate Resilience Summit earlier this month, leaders from across British Columbia gathered to confront one of the defining challenges of today: how to prepare for a future where climate driven hazards are more frequent, more destructive, and more intertwined with our social and economic systems? 

The keynote from Mayor Richard Ireland of Jasper reflected on the response to wildfire Jasper, and an insightful panel discussed how to keep Canada insurable. Both segments converged on the same truth: resilience is built long before disaster, enabled by the systems invested in, and revealed through community. 

What Jasper’s wildfire demonstrated  

On day one of the BC Climate Resilience Summit, UBC Sauder’s Centre for Climate and Business Solutions was proud to support a powerful keynote from Mayor Richard Ireland of Jasper, reflecting on the community’s wildfire experience in 2024. It was not only a story about loss, it was about capacity, connection, and decades of preparation that enabled Jasper to withstand the unimaginable. 

Mayor Ireland offered insight that became an anchor for the event: “Adversity doesn’t build resilience; it reveals it. Resilience is a verb, not a noun.” 

Jasper’s safe evacuation, preservation of infrastructure, and early recovery were the result of long-term investments in social cohesion, local capacity, and trust – the foundations of social infrastructure. Community spaces like restaurants and the local library became hubs of information, care, and belonging. Relationships became operational assets.  

Mayor Ireland shared observations while reflecting on Jasper’s resilience. “Jasper is the most fire-resilient community in Canada but not enough communities are vying for that title.” 

As Jasper rebuilds with improved building standards, FireSmart practices, and resident support programs, the message is clear: resilience succeeds when people are at the centre. 
 

Why end a climate summit with a conversation about insurance? 

The Summit closed with a panel that surprised many with a deep dive into insurance, finance, and the future of risk in Canada. 

Moderated by Don Iveson, Executive Advisor, Resilience Acceleration Lab, The Co-Operators with insights from Allison Ashcroft, Municipal Finance Authority of BC, Franziska Niegemann, BC Financial Services Authority and David Liebl, Wawanesa Insurance, the panel tackled the question that’s becoming existential for communities: how to keep Canada insurable as climate impacts accelerate? “This isn’t just about insurance,” shared Iveson. “It’s about the country we want in the future.” 

With climate losses accelerating, the panel discussed how premiums in BC are rising sharply and the risk pool is under strain. “One year of payments can happen now in a day or hours,” the panel noted. 

Communities cannot build resilience on financial uncertainty  

Ashcroft discussed how local governments are facing aging infrastructure, limited borrowing capacity, and unpredictable funding, a combination that threatens long-term climate adaptation. “There’s no way to do a 20-year capital plan without knowing if the money is coming in,” shared Ashcroft. 

Finance systems haven’t caught up to climate reality 

Niegemann posed the question: “What happens to capital flows in insurance and lending when these risks really start to hit?” Despite what we know, most financial behaviour doesn’t consider climate adaptation.  
 

Why these conversations matter for businesses 

While the Summit brought together community leaders, policymakers, and resilience practitioners, the implications reach far beyond the public sector. The insights shared speak directly to what businesses could face in the coming decade. 

Hazards are no longer hypothetical. Wildfires, floods, heat, smoke, and supply chain disruptions are already reshaping operating realities, and so is the financial system that many businesses rely on. The insurance panel emphasized that: 

• Insurance costs will continue rising in high-risk regions — affecting everything from commercial leases to lending requirements. 
• Capital flows will shift as lenders and investors reassess climate-exposed assets. 
• Regulation is tightening — from disclosure expectations to due diligence for climate exposed portfolios. 
• Talent demands are growing as organizations seek employees who understand climate risk and adaptation. 

For many businesses, this isn’t a distant threat. It’s a present-day operational, financial, and human challenge. 
 

Looking forward 

The BC Climate Resilience Summit emphasized that Canada is entering a new era. One defined by compounding climate risk but also by unprecedented opportunities for innovation, collaboration, and leadership. 

Keeping communities safe, connected, and insurable will require: 

• national leadership 
• long-term, predictable funding 
• open access to risk data 
• bold municipal action 
• and businesses playing an active role in climate adaptation 

The Centre for Climate and Business Solutions at UBC Sauder is committed to supporting this future by equipping businesses with the talent, research, and dialogue needed to lead the transition.