Nature Based Solutions for Building Climate Resilience

Dr. Marian Weber

InnoTech Alberta

Taking Action: Adapting to Climate Change on the Prairies

PRAC Regional Workshop 2018

September 20, 2018

Chateau Louis Hotel and Conference Centre, Edmonton

Infrastructure Gap

$3.7 trillion of investment in economic infrastructure alone is needed every year from now until 2035

20% is in North America

McKinsey Global Institute 2017. BRIDGING INFRASTRUCTURE GAPS HAS THE WORLD MADE PROGRESS?

https://www.mckinsey.com/industries/capital-projects-and-infrastructure/our-insights/bridging-infrastructure-gaps-has-the-world-made-progress

Nature Based Solutions

Natural Infrastructure Green Infrastructure

https://www.epa.gov/green-infrastructure/what-green-infrastructure

Loss of Natural Infrastructure Increases Climate Vulnerability

Loss of Green Infrastructure Increases Wind, Heat, and Noise

Natural Infrastructure is Undervalued

• Naturally occurring ponds in Gibsons BC provide $3.5 - $4 million of stormwater storage services annually;

• A 250-metre naturalized channel in Oakville, Ontario provides $1.24 - $1.44 million of storm water conveyance and storage annually;

• Natural wetlands in southern Ontario reduce flood damage costs by $3.5 million (rural) and $51.1 million (urban)

• A restored wetland in Manitoba valued at $3.7 million for flood reduction, water quality, and carbon benefits.

• In rural Saskatchewan SROI ratios over 3- years for wetland retention are 3.17 – 7.70 and 0.80 to 2.98 for full restoration (Pattison-Williams et al. 2018).

Moudrak, N., Feltmate, B., Venema, H., Osman, H. 2018. Combating Canada’s Rising Flood Costs: Natural infrastructure is an underutilized option. Prepared for Insurance Bureau of Canada. Intact Centre on Climate Adaptation, University of Waterloo.Pattison-Williams, John K. & Pomeroy, John W. & Badiou, Pascal & Gabor, Shane, 2018. "Wetlands, Flood Control and Ecosystem Services in the Smith Creek Drainage Basin: A Case Study in Saskatchewan, Canada," Ecological Economics, Elsevier, vol. 147(C), pages 36-47.

Obstacles & Remedies

Planning Policy Science Behavior

Land Use Planning

• Inventory of Assets

• Bylaws and MDPs

• MGA

• Ecological Reserve

• Municipal Reserve

• Defensible Performance Indicators

Policy

• Wetland policy

• Drainage with replacement

• Prioritization of Restoration over Retention and Enhancement

• Cumulative effects

• Cost of land in urban areas

• Liabilities

Policy• “Canadian public sector accounting standards do not allow for the

valuation and recording of [natural assets] into the financial statements of [a] Town. As such, [natural assets] are not reported in financial statements.” (MNAI, 2017)

The types of assets that are allowed

to enter into a municipal budget

fall under the category of

“Tangible Capital Assets”

Examples of assets (and useful life):

Municipal Natural Assets Initiative (MNAI) (2017). Defining and Scoping Municipal Natural Assets.Available at: http://institute.smartprosperity.ca/request-comments-defining-scoping-municipal-natural-assets

Examples of Market Responses

Direct Investment

AXA quadrupled its 2020 green investment target from $3.53 billion to $14.13 billion

Divestment

AXA to divest $2.83 billion in coal assets as well as more than $824 million from main oil sands producers and associated pipelines

ASN Bank Netherlands commitment to “biodiversity neutral” portfolio

Natural Capital Risk Disclosure

UN Sustainable Stock Exchanges Initiative

Dow Jones Sustainability Index

AGCS (ALLIANZ GLOBAL CORPORATE & SPECIALTY) 2018. Measuring and Managing Environmental Exposure.

Natural Capital Finance

NatureVest & EKO. 2014. Investing in Conservation: A landscape assessment of an emerging market. www.naturevesttnc.org/pdf/InvestingInConservation_Ex_Summary.pdf

Modeste Municipal Natural Infrastructure Project

• Business case for natural infrastructure in rural municipalities (900K)

• On the ground wetland and riparian restoration

• Modeling flood and drought mitigation and water quality improvements

• Cost benefit analysis

• ALUS, Leduc, Wetaskiwin, Parkland, & Brazeau Counties, North Saskatchewan Watershed Alliance, City of Edmonton, EPCOR, AEP, NRCAN, University of Guelph, InnoTech Alberta

Conclusions

“So if you don't like what's going on right now – and you shouldn't – do not complain. Don't hashtag. Don't get anxious. Don't retreat. Don't binge on whatever it is you're bingeing on. Don't lose yourself in ironic detachment. Don't put your head in the sand. Don't boo” Obama, Sept 7, 2018