Briefing

The federal government is building a $18.5-million climate-change research centre in P.E.I.

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The Canadian Centre for Climate Change and Adaptation will be built in St. Peters Bay, giving researchers at the 45,000-square-foot facility access to wetlands, forests and coastal habitats in the area. The federal and provincial governments are contributing a combined $9.7 million, the University of Prince Edward Island will provide $4.8 million and the Atlantic Canada Opportunities Agency is contributing $4 million. Research from the centre is meant to inform new green technologies, although the government did not say what exactly the facility would be studying or provide details of its R&D plans. (Canadian Press)

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Talking point: While the centre has been in the works for three years, its mandate fits with recent recommendations from Canada’s Expert Panel on Sustainable Finance. In its final report published in June, the group urged regulators to require companies to follow global standards for reporting their businesses’ impact on the climate, and the climate’s impact on their bottom lines. But the panel said complying with those standards is difficult because of a lack of consistent information on climate change and how it impacts the economy. As a solution, it suggested setting up a climate research centre to tackle some of the same problems the new PEI centre may now address.