ARTICLE: “An outcome of EAP evolution is the identification of an eco-terminology framework that is appropriate and relevant to municipal asset management,” stated Tim Pringle, the pragmatic visionary leading EAP, the Ecological Accounting Process initiative underway in British Columbia (Asset Management BC Newsletter, Winter 2020)
“Asset management professionals need to be aware of bias that may be implicit in traditional terminology for evaluation of ecosystem approaches. Bias comes into play in one or more of the following three ways. First, whether one breaks the ecological system into its parts, or looks at the system as a whole. Secondly, whether the analytical focus is solely on financial values, or also takes into account social values. Finally, whether the guiding philosophy for valuation primarily is influenced by academia and scientific arguments, or by how the community uses the natural commons (stream corridor),” stated Tim Pringle.