In the drive for financial and environmental sustainability, natural assets can be used in parallel with or to replace some traditional approaches and hard assets. Natural solutions can come with lower capital and operating costs, and they can mitigate the impacts of climate change. Natural assets also bring additional benefits; they can enhance recreational opportunities, soil quality, and habitat. The interaction of urban green infrastructure components can collectively help conserve biodiversity and restore ecological processes. Amid discussions focused on market-based approaches to “valuing nature,” the session will highlight the significant opportunity within traditional infrastructure asset management. This overlooked avenue incorporates natural assets into a traditional asset manager’s portfolio, emphasizing the opportunity and examples for the sustainable management of natural assets as a cost-effective alternative to grey or built infrastructure. The emerging practice of natural area asset management provides an opportunity to sustainably manage natural environments in urban landscapes. Using traditional asset management principles, an asset accounting approach will help identify our natural asset inventory, the environmental services, risks of neglect, and the priorities and funding for their protection, restoration, and management. This session delves into recognizing, protecting, and managing the intrinsic value of natural assets in urban environments.

After this session, participants will be better able to:
• Use traditional asset management approaches to value green and natural assets. Understand and define green, natural, and blue assets.
• Incorporate green infrastructure and natural assets into an asset management plan.
• Recognize the benefits of green infrastructure and natural assets and judge whether to use these solutions versus traditional grey infrastructure.

Contributor/Source

David Jenkins-CEO

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