Climate prosperity is a new way of looking at climate change by admitting that there's a problem and trying not only to alleviate it, but also to mitigate it and prosper from that mitigation.

"There are risks to climate change, clearly, but there are also opportunities," explains David McLaughlin, president of the NRTEE, "climate change is happening, and we can deal with it, and we can gain from it."

Critics however note that for almost every benefit, there is also a downside. Canada may see a new breadbasket in the East at the cost of drought and desertification in the Prairies. Arctic shipping will become more feasible as the arctic continues to melt, but shipping through the Great Lakes and St. Lawrence Seaway will get more expensive, as lower water levels mean ships must carry smaller loads.

Climate scientist Danny Harvey of the University of Toronto said "It is full of bad science and utterly downplays the serious impacts of climate change. How can we (Canada) talk about profiting from climate change when most of the world will suffer devastating impacts, in part because of our emissions? It is disgusting."