Transcript: Climate Watch Shorts: Accounting for climate change | Oct 01, 2016

Against a globe logo receding in a cloudy sky, an opening slate reads "Climate Watch."

A woman in her forties with frizzy blond hair in a bob and glasses stands on
a railway bridge in a downtown area and speaks. A caption reads "Nam Kiwanuka,
Climate Watch shorts host."

Nam says WELCOME TO CLIMATE
WATCH SHORTS
WHERE WE EXAMINE
THE LOCAL IMPACT
OF CLIMATE CHANGE.
THE 2013 FLOOD WAS
THE MOST EXPENSIVE
NATURAL DISASTER IN
ONTARIO HISTORY.
IT CAUSED NEARLY A
BILLION DOLLARS IN DAMAGES
IN THE CITY OF
TORONTO ALONE.
THE COSTS OF CLIMATE
CHANGE ARE MOUNTING.
BUT IT'S NOT JUST
DISASTERS THAT BUSINESSES
HAVE TO CONSIDER.
SHORTER WINTERS, HOTTER
SUMMERS ARE ALSO
HAVING AN EFFECT ON
THE BALANCE SHEET.
HERE'S HOW.

Over a shot of pedestrians' moving legs on a city street
and other downtonwn scenes, a caption reads
"Accounting for Climate Change."
(Tinkly music plays)

The high-rise downtown area of Toronto appears. A caption reads "Toronto."
On a white slate occupying half the screen, a caption reads "In 2015, GO
trains and buses carried 69.5 million passengers. The July 2013 flood,
which stranded a GO train, cost an estimated 940 million dollars in the
city of Toronto, according to the Insurance Bureau of Canada."

Gordon Beal of C.P.A.C. says CLIMATE CHANGE IS AN ISSUE
THAT'S A BUSINESS ISSUE,
AND IT'S AN
ECONOMIC ISSUE.
IT GOES WAY
BEYOND SCIENCE,
WAY BEYOND ENVIRONMENT.
IT'S AN ISSUE THAT'S
GOING TO IMPACT CANADIANS
IN A BROAD SENSE.

A new half-screen caption reads "Accountants like Beal are trying to
educate businesses on what climate change can do to a company's bottom line."

Beal continues WHERE THEY SOURCE
THEIR MATERIALS,
HOW THEY SOURCE
THEIR MATERIALS,
ACCESS TO MARKETS,
DISTRIBUTION NETWORKS
CAN ALL BE AFFECTED BY
A CHANGING CLIMATE
AND SEVERE WEATHER.
IF ALL OF A SUDDEN THE
LINES THEY'RE RELYING ON
FOR DELIVERY OF THEIR
PRODUCTS ARE DOWN
BECAUSE OF... BE IT THE TRAIN
OR BE IT SHIPPING OR OTHER,
BECAUSE OF A SEVERE WEATHER
EVENT OR BECAUSE OF
A CHANGING SHORELINE,
THE REALITY IS
COMPANIES HAVE TO BE
THINKING ABOUT, HOW IS
OUR SUPPLY CHAIN AFFECTED
BY CLIMATE CHANGE?

A woman with short hair in her forties, wearing glasses and a white cardigan
over a patterned gray and white dress speaks. A caption reads "Leslie Woo
of Metrolinx is in charge of preparing the transit agency for the effects
of climate change.

Leslie says IN CANADA RIGHT NOW, WE ARE
THE FIRST TRANSPORTATION
AUTHORITY TO UNDERTAKE A
VULNERABILITY ASSESSMENT.
SO WE ARE LEADING
IN OUR NATION
IN TERMS OF WHAT
WE'RE DOING.
WE'RE VERY PROUD
OF THAT.
WE HAVE A DEDICATED
RESOURCE TO UNDERTAKING
CLIMATE CHANGE,
IMBEDDING RESILIENCY
INTO OUR OPERATIONS,
WHICH IS, WE HOPE,
EVERYONE ELSE WILL FOLLOW
OUR LEAD IN THIS WAY.

Over raindrops falling on a wet surface, a caption reads "July 8, 2013."

Leslie continues THE JULY 8TH FLOODING OF
OUR TRAIN AT THE BOTTOM
OF THE DON RIVER BECAUSE OF
THE EXTREME RAIN CONDITIONS.
ON SOME OF OUR CORRIDORS,
WE ENLARGED THE SIZE
OF THE CULVERTS THEMSELVES
THAT PASS UNDER THE TRACKS
TO CREATE MORE
CAPACITY FOR FLOW
SO AS NOT TO WASH OUT THE
BALLAST UNDER OUR TRACKS.
WE HAVE FIGURED OUT THAT
PERHAPS WE NEED TO DESIGN
FOR A LONGER
EVACUATION PERIOD.

A green and white Metrolinx train moves out of a station.

Leslie continues SO, GOING FROM A
THREE-HOUR TO MAYBE
AN EIGHT-HOUR CAPACITY
IN TERMS OF THE AMOUNT
OF TIME IT TAKES FOR
AN EVACUATION.

Beal says MANY PEOPLE HAVE
BEEN "NOT ON BOARD"
WITH THIS CLIMATE
CHANGE ISSUE.
SOME WOULD ARGUE WE'RE
BEHIND SCHEDULE.
SO, WE'RE TRYING TO RAMP
IT UP AS BEST WE CAN
AS A PROFESSION.
(Rhythmic music plays)

A man in his sixties with short gray hair speaks from a podium. A caption
reads "Bank of England governor Mark Carney was the special guest at a recent
C.P.A. Canada-sponsored information session on climate change. Carney, who also
chairs the International Financial Stability Board, oversees a task force
that is looking at how companies worldwide can best disclose climate-related risks."

Beal continues THIS INITIATIVE BY
GOVERNOR MARK CARNEY
IS SO IMPORTANT BECAUSE
THEY'RE FOCUSING ON AN AREA
THAT WE CERTAINLY IDENTIFIED
AS AN EARLY ISSUE,
WHICH IS AROUND REPORTING.
AND IF WE CAN ENHANCE
REPORTING IN THIS AREA,
WHAT THAT DOES IS IT
ELEVATES THE ISSUE.
SO THAT BUSINESS
LEADERS SEE IT,
INVESTORS SEE IT,
POLITICIANS SEE IT.
SO WHEN YOU SEE THE POLITICAL
LEADERS COME TOGETHER
FROM AROUND THE WORLD TALKING
ABOUT CLIMATE CHANGE,
THEY NEED THAT INFORMATION.
AND THIS IS WHERE I THINK
THE REAL BENEFIT IS
OF THE WORK OF THE FINANCIAL
STABILITY BOARD
AND THE TASK FORCE ON
CLIMATE-RELATED DISCLOSURE...
IS THAT THESE ISSUES
ARE GOING TO BE ELEVATED
SO THAT PEOPLE CAN LOOK
AT WHAT'S HAPPENING
AND MAKE BETTER
DECISIONS FROM THAT.

An end slate against clouds reads tvo.orgslashclimatewatch

Watch: Climate Watch Shorts: Accounting for climate change