Eco-Asset Strategy establishes North American precedent for accounting for nature in financial management
The Town of Gibsons, British Columbia, Canada, has developed and is implementing an Eco-Asset Strategy which recognizes the role of nature as a fundamental component of the municipal infrastructure system, leading to a greater understanding of the value of ecosystems services and improved financial and operational management plans of the community’s natural assets,” reports Emanuel Machado, Chief Administrative Officer.
“At the heart of the Gibsons Eco-Asset Strategy is North America’s first natural asset policy, which directs the municipality to consider the role of natural assets within our overall asset management strategy,” continues Emanuel Machado.
“What gives life to the policy is the fact that, once the natural asset is within the policy, a budget must be set aside for its ongoing management and maintenance, and town staff must work together to preserve its integrity.” Publicized on the Partnership for Water Sustainability in British Columbia, November 2015.
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