Local Governments Recognize the Importance of Natural Asset Management
May 16 2024 - 10:27AM
To support local governments in implementing natural asset
management, the Natural Assets Initiative (NAI) has released
"Nature is Infrastructure: How to Integrate Natural Assets in Asset
Management Plans" a progressive guide which outlines comprehensive
best practices so that municipalities can effectively manage
natural assets as nature-based solutions can complement traditional
“grey” engineered infrastructure and provide significant cost
benefits while reducing growing risks to communities. This document
aligns natural asset management, acknowledging unique benefits and
attributes, with existing approaches and practices for built
assets. It provides direction and insight for local governments
developing natural asset management plans.
Supported by the
Greenbelt Foundation and the Municipal Finance Officers’
Association of Ontario (MFOA), the guidance outlines how local
governments across Canada are taking steps to incorporate natural
assets into their asset management processes, recognizing their
critical role in community infrastructure. Natural assets, such as
wetlands, forests, and watercourses, provide essential ecosystem
services that contribute to public services and improve quality of
life.
Establishing the state of
natural assets in Southern Ontario is one of the complexities this
guide can assist. The document can help define the geographic
scope, inventory, condition, and replacement costs while
incorporating risk and criticality. More details can be found in
Appendix D: Ontario Conservation Authorities Expertise and Support
on Natural Asset Management within the Guidebook.
Natural assets are
critical community resources that deliver ecosystem services,
including clean drinking water, improved air quality, flood
control, and recreational opportunities. It is crucial to
acknowledge and manage these assets effectively to ensure their
maximum benefit to building climate-resilient
communities.
“Ontario’s natural
systems provide us with many irreplaceable natural assets in one of
the most biologically rich areas in all of Canada – Ontario's
Greenbelt,” said Edward McDonnell, CEO of the Greenbelt Foundation.
“The Greenbelt’s natural systems support ecological and human
health and safeguard the vital resources that clean our air and
water, reduce our flood risks, provide a home for wildlife, and
ensure that our communities have greenspace to explore.”
By integrating natural
asset management into their asset management frameworks, local
governments can ensure the proactive and sustainable management of
their natural assets. This approach will help preserve the
ecosystem services provided by these assets and prevent their
deterioration. Proper natural asset management will not only
protect the Greenbelt and its prosperity but also interconnected
natural heritage and water resource systems across southern Ontario
– an area where the majority of Ontarians live.
As natural asset
management continues to evolve, this guidance document serves as a
valuable resource for local governments across Canada, especially
in Ontario. By adopting standardized terms and approaches,
communities can effectively manage their natural assets and
maximize the benefits they provide to residents.
For more information on
how to include natural assets in asset management plans and the
guidebook, please visit:
https://mnai.ca/nature-is-infrastructure-how-to-include-natural-assets-in-asset-management-plans/
and watch this webinar on how this Guidebook was
developed.
About the Greenbelt
and the Greenbelt Foundation The
Greenbelt Foundation is the only organization solely dedicated to
ensuring the Greenbelt remains permanent, protected, and
prosperous. The Foundation operates as an independent, charitable
organization, and receives core funding from the Government of
Ontario as well as other public and private support to make
strategic investments that enhance and improve the systems and
productivity of the Greenbelt. Since 2005, the Foundation has
invested in interconnected natural, agricultural, and economic
systems, to ensure a working, thriving Greenbelt for
all.
Now a world-class model
for land use policy, Ontario’s Greenbelt spans over two million
acres of protected natural landscapes, farmlands, and urban river
valleys. For more information, visit:
www.greenbelt.ca.
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Serena Luk
Greenbelt Foundation
416-960-0001 ext 314
media@greenbelt.ca