Canada already employs one of the world’s most sophisticated accounting systems for natural capital. In 2013 it estimated the value of our marketable natural resource assets at $750 billion. With this initiative, Smart Prosperity Institute seeks to further refine our understanding of the economic value of nature, to advance the economic tools and policies to protect it, and to better build the environment into economic measures of success.
The goal of this project is to shed light on the relationship between economic activity and the environment by exploring the linkages between changes in our natural capital and our measures of productivity generally, and through the construction of an environmentally adjusted measure of productivity specifically.
Local governments across Canada are faced with significant asset management challenges. Many of the services they provide - including water and wastewater delivery, waste removal, transportation, and environmental services. The Municipal Natural Assets Initiative aims to equip local governments across Canada with the tools needed to identify and account for natural assets at the community level.