Julie Pisani

    “Living Water Smart in British Columbia: Accounting for Stream Systems in Asset Management”, a downloadable version of an article published on Waterbucket eNews about application of the Ecological Accounting Process to the Millstone River in the Regional District of Nanaimo (Vancouver Island), released by the Partnership for Water Sustainability in June 2021

    The driver for EAP, the Ecological Accounting Process, is degradation of stream channels and streamside protection areas. “Accounting for our region’s natural assets is part of responsible asset management that includes ecological systems as well as physical infrastructure. This report has given the Regional District of Nanaimo, as well as the City of Nanaimo, further insight as we develop our existing framework for the protection and enhancement of our important natural features in our communities, including stream corridors,” stated Tyler Brown, RDN Chair.

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    DEMONSTRATION APPLICATION OF ECOLOGICAL ACCOUNTING PROCESS: Millstone River in the Regional District of Nanaimo, completed in March 2021

    “The EAP methodology reflects the understanding that landowners adjacent to the stream corridor and setback zone and the broader community share responsibility for and benefit from the condition of the stream as well as the financial and ecological value of the land it occupies. The report suggests a general framework for local governments to consider in using the lens of ecological accounting within Corporate Asset Management Plans,” stated Julie Pisani.

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    REPORT ON: “Millstone River – A Natural Commons in the Regional District of Nanaimo: Operationalizing the Ecological Accounting Process for Financial Valuation of Stream Corridor Systems within an Asset Management Plan” (Partnership for Water Sustainability in BC; released March 2021)

    “The Millstone project provided the RDN, the City of Nanaimo and local stewardship group Island Waters Fly Fishers with the opportunity to get a real measure that accounts for the value and worth of the Millstone River stream corridor in asset management planning. They now have the numbers to make the case for M&M (maintenance and management) of the Millstone. The Millstone River EAP project has provided the RDN with a path forward so that it could account for and operationalize M&M of stream corridor systems across the region,” stated Kim Stephens.

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