The Natural Assets Initiative (previously the Municipal Natural Assets Initiative, or MNAI) was convened in 2016 with the goal of refining, testing, and scaling up the Town of Gibsons, BC’s approach to natural asset management (NAM). 

To do this, the NAI team developed a methodology and guidance documents to help local governments identify, value, and manage natural assets within traditional financial and asset management planning frameworks to establish sustainable service delivery. For example, a wetland, which may have only previously been assessed for its recreational or aesthetic value, is now also assessed for the stormwater management services it provides. These services are then valued, using a cost replacement method; i.e., how much would it cost to replace those stormwater services currently being provided by the wetland with an engineered alternative?

The original methodology was tested in 11 Canadian communities through two national projects between 2016 and 2020.

Cohort 1

In 2016-17, five pilot communities tested and refined the natural asset management approach and methodology: the City of Nanaimo, BC, Town of Grand Forks, BC, District of West Vancouver, BC, Town of Oakville, ON, and the Region of Peel, ON. 

Each community selected a natural asset of interest within their jurisdiction with which to pilot municipal natural asset management, and the NAI team worked closely with municipal staff to guide them through the methodology.

Cohort 2

In 2018-2020, six additional local governments further refined the municipal natural asset methodology that was piloted in Cohort 1, and added additional practical examples to the evidence base for municipal natural asset management. City of Courtenay, BC, District of Sparwood, BC, City of Oshawa, ON, Town of Florencevillle-Bristol, NB, Town of Riverview, NB, and the Village of Riverside-Albert, NB.

Participants investigated how natural assets are benefiting their communities, how to increase resiliency under future climate scenarios, and what economic value is being derived from these natural assets. While the focus was on water quality and quantity benefits, numerous other benefits were also identified for future analysis.The results show that, overall, the methodology piloted with Cohort 1 has proved robust, the Cohort 2 findings have been consistent with the overall findings from Cohort 1, and evidence and experience from 6 new projects are now available to inform additional actions.

 See the On the Cround section for individual reports from the first and second cohort.

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