An illustrated background of Canadian money — loonies, toonies, and twenties.

Canada has long had a resource-based economy. Fur, forests and fish anchored local livelihoods and international trade before this was a country. For the last century or so, oil, gas and minerals have done the same. As modern geopolitics become increasingly unstable, politicians across the country are — once again — promising economic stability through harvesting nature.

An illustrated collection of little figure-like people with various jobs: including pipeline worker, emergency responder, prime minister, CEO, and scientist

But a degraded environment isn’t stable, economically or otherwise. And pollution and the effects of climate change bring hard costs. Food prices rise when farmers can’t rely on the soil or the weather. Flood and wildfire evacuations cost families, businesses and governments. Poor air quality and extreme heat result in lost paydays for outdoor workers, as well as for caregivers who need to stay home with sick kids or vulnerable seniors. 

Environmental foresight is good financial planning. From carbon pricing to water protection to flood-smart development, the ways we act and spend today could significantly reduce our future costs. Or, they could massively increase them.

A healthy economy requires a healthy environment. When we try to ignore that, somebody pays. Let’s take a look at who.

Health

An illustration of a respiratory technician holding a breathing device.

23.6%

In 2023, smoke days were responsible for up to 23.6 per cent more asthma-related hospital emergency visits in Ontario.

17,400

Federal research has found air pollution contributes to about 17,400 premature deaths each year in Canada.

Oil and gas

An illustration of a man holding a wrench

$0

The amount of money the Province of Alberta gets for oil and gas leases on public grazing land

$244,500

Estimated amount of money one grazing land leaseholder earns annually from oil and gas wells on public land

Disaster response

An illustration of a forest firefighter and a waterbomber plane in the background

$375 million

In 2025, emergency wildfire expenses cost Manitoba $375 million.

+42%

That’s 42 per cent more than the budgets of the environment and climate change department and the department of natural resources combined.

Agriculture

$3.75 billion

Wine is a $3.75-billion dollar industry in B.C., one that keeps not just vineyards but restaurants, hotels, supply companies and small family businesses afloat.

+23%

Beef prices in Canada are currently 23 per cent higher than the national five-year average — in part because droughts are reducing herd size, while global demand continues to grow.

Development

An illustration of a two-story house

$800,000

The 2025 budget for the climate leadership division in Kingston, Ont., which runs a popular program to help homeowners access zero-interest loans for retrofits that reduce emissions, energy use and water use.

$11

How much the climate leadership division adds to Kingston’s average property tax bill.

Conservation

$1 = $5.47

For every $1 invested in Indigenous Guardians, up to $5.47 is returned to the Canadian economy.


Labour

A man in a grey suit holding a flag reading 'Cenovus'

$4,995/hr

The CEO of Cenovus is the lowest paid head of Canada’s five biggest oil and gas companies. He makes about $4,995 an hour.

200x

That’s about 200 times the median hourly wage of Canada’s forest firefighters.

Energy

Coming up: An influx of natural gas projects is set to demand much of B.C.’s already-stressed electricity grid. Matt Simmons and Shannon Waters consider the cost — and who will pick up the tab.

An illustration of a woman in a tan suit.

Cost for residential electricity by region (cents/kWh), based on 1,000 kWh/month of usage

A chart showing electricity prices by province/territory. Quebec, Manitoba, and BC have the lowest rates, while PEI, Northwest Territories, and Nunavut have the highest rates.

Source: Canada Energy Regulator, 2026-03-04

Public finance

  • Meet a millionaire who wants Canada to tax the rich

    Meet a millionaire who wants Canada to tax the rich

    Avi Bryant retired at 40 after making millions in the tech industry. Now, he’s part of Patriotic Millionaires, a group advocating for higher taxation of the country’s wealthiest citizens — which he says could help Canada achieve its climate goals

5.7%

The amount of Canada’s total net wealth held by the country’s top 0.01 per cent richest families, according to the Office of the Parliamentary Budget Officer


Credits

Executive ​e​ditor: Denise Balkissoon​ / Creative director: Shawn Parkinson ​/ Web developer: Andrew Munroe / Reporters: Drew Anderson, Leah Borts-Kuperman, Santana Dreaver, Carl Meyer, Paloma Pacheco, Julia-Simone Rutgers, Matt Simmons, Fatima Syed and Shannon Waters / Video producer: L. Manuel Baechlin / Editors: Elaine Anselmi​, Michelle Cyca, Arik Ligeti, Will Pearson, Sharon J. Riley, Jacqueline Ronson, Lindsay Sample and Karan Saxena