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“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.”

“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’.”

“The Symposium provided a platform for a call for action because adapting to climate change requires transformation in how we value nature and service land. An informed stewardship sector can be a catalyst for action on Vancouver Island and beyond, through collaboration with local government,” stated Kim Stephens. “Tim Pringle shared demonstration application anecdotes about EAP, a whole-system view of watersheds that assesses hydrology in order to accurately describe ecological services.”

“Our eco-assets journey began in 2012,” stated Emanuel Machado. “The triggering event was the release of the Gibsons Aquifer Mapping Study. Shortly afterwards the Town changed the definition of infrastructure and formally acknowledged the need to understand and manage (eco)systems and not simply individual infrastructure assets. This action led directly to the Gibsons Eco-Asset Strategy.”

“It is important to recognize that we are all on a journey, and this journey did not just start yesterday. This journey has a 20 year history,” stated Kim Stephens. “Post-2015, there are two initiatives in play. One is the Municipal Natural Asset Initiative. The other is the Ecological Accounting Protocol Initiative. They have the potential to achieve complementary outcomes. It is important to establish precedents. We learn from precedents.”

“We have been working on an ecological accounting protocol approach that recognizes the importance of the stream in its natural state. It is not a thing that carries stormwater,” stated Jim Dumont. “We asked the question – how can we superimpose a drainage function while maintaining that natural function? This is a different way of thinking from saying that we have a drainage system in which we want to have some natural features. ”

“There has been a lot of work done over the last couple of decade to start to incorporate nature and nature’s services in economics. And the work that we are doing in the Municipal Natural Assets Initiative is helping to move this along.,” stated Michelle Molnar. “We are working to test how nature can substitute, how it can safeguard, and how it can complement existing engineered infrastructure systems. “

“With each new generation, your view of the world is based on the world as you see it now. Those images of ‘now’ are in your head. So, when change happens, you have no knowledge of what happened before you,” stated Kim Stephens. “Our approach in British Columbia is to say ‘hey, we can make a difference’. We have to think differently about how we develop on the land. The experience and tools that we are developing is key to reversing the trend and making things better.Communities can re-set the ecological baseline.”

The Comox Valley Conservation Partnership organized an Eco-Asset Symposium in March 2017. “The stewardship and conservation sector has traditionally focused on habitat restoration and protection of lands with high ecological values,” stated David Stapley. “With cumulative impacts from climate change, urban and resource development escalating, these groups have now become community leaders in educating and supporting improved land use practices.”

“Floods have become one of the most visible signs of the effects of climate change in cities, towns and rural areas throughout Canada,” stated David Suzuki. “The Insurance Bureau of Canada found one in five Canadians faces some level of flood risk, and 1.8 million households are at very high risk. Climate change–related events — including floods, drought and fires — are a drain on personal finances and the economy.”