Natural assets have the ability to “change the way municipalities deliver everyday services, increasing the quality and resilience of infrastructure at lower costs and reduced risk”.
When we refer to 'natural assets', we are referring to the stock of physical and biological resources found in our community. The City of Pitt Meadows has a complex inventory of biological, chemical, and physical "ecosystem goods and services" that benefit all supporting beings within our community. All of which influence the quality of life for our residents.
Ecosystem goods are the products from natural capital such as food, fibre, clean air, and water; ecosystem services are the less tangible but no less significant benefits from ecosystem processes such as nutrient cycling, water purification and climate regulation, and non-material benefits such as recreation, aesthetic and cultural benefits.
The overall objective of this work is to establish the City as a model community that takes action in the areas of sustainability and environmental responsibility. The Natural Assets Inventory and Management Strategy (NAIMS) output will prioritize natural resource management objectives to help reduce ecological footprints, enhance environmental protection, support public health and safety, and improve operating costs and efficiencies that align with community values. The NAIMS will provide a formal risk management framework and prioritize short, medium, and long-term actions, roles and timelines. The document will encompass areas of the environment such as natural capital protection, flood protection and/or mitigation, and water conservation. It will be a living document that can be updated as strategies are implemented and new opportunities arise, and serve as a framework for the City that will contain sufficient detail to clearly establish actions that can be implemented both corporately and community wide.
The City is undertaking a Natural Assets Inventory and Management Strategy. Once completed, this strategy will:
- formally identify and assess the City’s natural capital;
- assess its current social, economic, and ecological value;
- engage the community through a public consultation process to receive their values and feedback on natural assets;
- develop strategies to help guide the future direction of natural resource management; and
- identify priority focus areas for protection, enhancement and/or restoration initiatives to maintain, gain and/or improve natural capital.
The Municipal Natural Assets Initiative (MNAI) is changing the way municipalities deliver everyday services, increasing the quality and resilience of infrastructure at lower costs and reduced risk. Check out their discussion paper for details.