Distributed June 27, 2016 11:00 AM
City chosen for Natural Capital pilot study
Buttertubs Marsh will be the site of a new pilot study on managing natural capital in our community.
Natural capital refers to our planet's stock of water, air, land, renewable and non-renewable resources. Similar to how economic capital provides a flow of goods and services, elements of natural capital work together to provide humans and other species with goods and services that are wide-ranging and diverse.
The City of Nanaimo has been chosen as one of five communities across the country for a Municipal Natural Capital Initiative Study. The objective of holding the study in Nanaimo and the other selected communities is to test and refine the approach within a local government setting. The pilot program is expected to kick off with community workshops in August 2016 and is expected to wrap up December 2017.
Strategic Link: Environmental Responsibility
- The Municipal Natural Capital Initiative is organized through the following partners: The Town of Gibsons, The David Suzuki Foundation, Sustainable Prosperity, Asset Management BC and Brooke and Associates.
- The Nanaimo pilot study will focus on the value of the stormwater service provided by the Buttertubs Marsh Complex.
- The study will look at ways to apply measurement and management methods used in asset and financial management practices to conserve and enhance natural capital.
- At the April 11 Committee of the Whole meeting, Nanaimo City Council approved funding for a pilot study to be undertaken on the City's natural capital.
- The Buttertubs Marsh Complex is co-owned and managed by the City of Nanaimo, the Nature Trust of British Columbia and Ducks Unlimited Canada.
- The City of Nanaimo was chosen along with the City of Grand Forks, District of West Vancouver, Region of Peel in Ontario and Town of Oakville in Ontario.