The City of Calgary Valuation of Natural Assets

Calgary, Alberta

The City of Calgary’s Natural Assets Valuation documents the significant value of forests, riparian areas, and waterbodies, and the vital services they supply. This provides essential insights to guide decision-making and strategic planning for land-use and natural asset management, protecting the environment and mitigating the effects of climate change. Associated Engineering inventoried and financially valued Calgary’s natural assets and their replacement costs, prioritizing services like recreation, habitat, water retention, heat reduction, and carbon storage. Integrating spatial data into a Geographic Information System, they developed an online dashboard for comprehensive data analysis and devised a method to value water retention. This method revealed Calgary’s natural depressions offer significantly higher storage capacity than current stormwater management practices. This project serves as a model for other communities seeking to harmonize built and natural asset management practices.

The jury admired the project's recognition that natural ecosystems were already providing water retention effectively, demonstrating the true value of natural processes to engineering solutions. The team was recognized for their ability to effectively articulate the value of natural solutions to policymakers, promoting sustainable practices over costly concrete alternatives.

For additional information on this project, click here.