Extensive Canada Day flooding is just the latest tango with Mother Nature that Ottawa residents have dealt with over the past decade. Historic floods in 2017 and 2019, multiple tornadoes in 2018, a derecho in 2022, and wildfire smoke are among the short list of extreme items. And now, we are getting word that the July 1st rainfall was, in some areas of Canada’s Capital, a severe weather event that happens once every 200 years. Furthermore, experts have said that these events will continue to happen because of climate change. What are the financial impacts, and how do municipalities plan ahead? CFRA’s Andrew Pinsent checks in with Kathryn Bakos, the Managing Director of Finance and Resilience at the University of Waterloo’s Intact Centre on Climate Adaptation. She has extensively studied the ripple effects of these weather events, including Ottawa’s 2017 and 2019 floods.