Integration of Natural Assets into Municipal Asset Management Plans

The Greenbelt Foundation, in partnership with Watson & Associates Economists Ltd., undertook a comprehensive project to assess how municipalities within Ontario’s Greenbelt are integrating natural assets—such as wetlands, forests, and rivers—into their asset management plans. This work, published in 2024, evaluates municipal progress in complying with Ontario Regulation 588/17, which requires natural assets to be included in asset management plans by 2024. By advancing this integration, the project aims to help municipalities harness the benefits of natural systems for essential services, such as water management, climate resilience, and cost-effective infrastructure solutions.

Key Insights from the Report

Of the 73 Greenbelt municipalities evaluated, 33% have not yet integrated natural assets into their plans, while only a small number have achieved advanced levels of maturity.
Financial limitations, insufficient staffing, and a lack of standardized tools and methodologies are significant obstacles to progress. Smaller municipalities, in particular, struggle with capacity, while larger municipalities face departmental silos that hinder collaboration.
Tools such as natural asset inventory templates, risk management frameworks, and tailored training sessions have proven effective. Regional collaboration and consistent methodologies are essential to addressing knowledge gaps and resource limitations.
Properly managed natural assets provide services like flood control, water filtration, and ecosystem preservation, reducing reliance on built infrastructure while mitigating climate risks.

Why This Matters for the Greenbelt

The Greenbelt is vital to Ontario’s climate resilience, encompassing ecosystems that deliver essential services to communities while supporting biodiversity. Incorporating natural assets into municipal planning ensures these landscapes are protected and their benefits sustained for future generations. This work is critical to fostering environmentally and economically resilient communities across the Greenbelt.

Webinar: Tools and Resources for Early-Stage Natural Asset Management

The Greenbelt Foundation recently hosted a webinar to help municipalities in the early stages of natural asset management. The session focused on actionable strategies, case studies, and practical tools to support municipalities in building capacity and integrating natural assets into their plans.