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“The concept of natural capital and natural assets can be a challenge to integrate effectively into asset management practices. EAP deals with a basic question: what is a creekshed WORTH, now and in future, to the community and various intervenors? The EAP demonstration application process has been a fruitful journey for the project team and collaborators. Along the way, our collective thinking evolved. We broke new ground with EAP. Insights and understanding that we gained are shared in the Primer on the Ecological Accounting Process,” stated Tim Pringle.

“Scientists have long known that trees have far more to offer us than pleasant feelings. Around the turn of the century, organisations like the World Bank and the UN Environment Programme pushed for a rigorous valuation of the merits not just of trees, but of rocks, rivers, soils and sediments too. The result was the landmark Millennium Ecosystem Assessment of 2005, which put a price on the services humans gain from nature,” wrote Simon Usborne.

“On behalf of the Metro Vancouver Utilities Committee, I invited Kim Stephens to provide us with an update on inter-regional collaboration through the Georgia Basin Inter-Regional Education Initiative,” stated Mayor Darrell Mussatto, Chair. In 2017-2018, federal-provincial funding enabled the Partnership to complete two demonstration applications of the Ecological Accounting Process on Vancouver Island.

“Over the last decade, an industry has developed that values different aspects of nature in different ways,” wrote John Henneberry. “Nature appears more fragmented because we have to slice it into categories and dice those categories into bits before we can value bits of those bits. The sum of these parts is far short of the whole and does not capture the interconnectedness and holism of nature. In addition, our view of nature is biased to those aspects of it that can be measured and particularly to those that can be valued.”

Like many small creeksheds, Busy Place Creek (Sh-hwuykwselu) lies in more than one authority with jurisdiction. Its upland source and discharge to the Koksilah River are in Cowichan Tribes lands, including the Cowichan-Koksilah estuary, which it nourishes. There is an opportunity to interweave Indigenous knowledge and Western science in building a strong collaboration around hydrology. “Sh-hwuykwselu belongs in our lives,” stated Tim Kulchyski when he provided historical context from a Cowichan Tribes perspective.

“Local government efforts to account for natural assets… run afoul of Canadian public sector accounting rules, which do not allow accountants to consider natural assets to be ‘real’ assets for financial purposes,” stated Roy Brooke. “This could — and should — change, however, as the result of an ongoing consultation led by Canada’s Public Sector Accounting Board. They develop the Handbook that guides Canada’s public sector accountants, and this consultation is a once-in-a-generation opportunity to make adjustments to the concepts underlying our Canadian public sector accounting standards.”

“The concept of natural capital and natural assets can be a challenge to integrate effectively into asset management practices,” stated Kim Stephens. “Local governments need ‘real numbers’ to deliver outcomes and support decision making. EAP – Ecological Accounting Process – deals with a basic question: what is a creekshed WORTH, now and in future, to the community and various intervenors? Selection of Brooklyn Creek as an ‘EAP Demonstration Application’ was made possible by the willingness of the Town of Comox to participate in a program funded by the governments of Canada and BC.”

“This demonstration application of the Ecological Accounting Process (EAP) has endeavoured to establish what the Brooklyn Creekshed may be worth from the point of view of investments made in the lower catchment by the Town of Comox and other intervenors / managers. As well, this demonstration application of a systems approach provides context for identifying future opportunities to access more ecological services from the middle and upper catchments of the creekshed to serve human demands as well as the intrinsic needs of nature,” stated Tim Pringle.

“We get it. It can feel incredibly daunting to implement a significant change to your established systems – even when there’s clear evidence that change will almost certainly help improve decision-making, reduce asset funding requirements and advance your community’s resilience to climate change over the long-term,” states Emanuel Machado. “That’s why the Town of Gibsons was first inspired to create “Advancing Municipal Natural Asset Management: The Town of Gibsons’ experience in financial planning and reporting” – otherwise known as ‘Advancing MNAM’.”

Hydrology is the engine that powers ecological services. Thus, integration of the Partnership for Water Sustainability’s work within the BC Framework should accelerate implementation of the whole-system, water balance approach at the heart of the Partnership’s ‘Sustainable Watershed Systems, through Asset Management’ program. “The Ecological Accounting Process, EAP, establishes what the definable benefits of ecological services derived from creekshed hydrology are, what they may be worth to stakeholders, and how they may be maintained and enhanced,” wrote Tim Pringle.