The Value of Wetlands to Canadians

What are wetlands worth to Canadians?

It is estimated that Canada’s wetlands provide billions of dollars annually in economic and ecosystem services by storing carbon, minimizing flooding and providing water quality benefits to communities across the country. Yet, Canada has lost up to 70 per cent of its wetlands in settled areas, resulting in significant long-term financial and environmental costs to the Canadian economy and to our natural environment.

Goal

This project is designed to establish more accurate and reliable mechanisms for measuring the economic value of wetlands and the ecosystem services they provide to Canadians and the Canadian economy.

Objectives

To develop valuation methodologies that better estimate the economic costs and benefits associated with wetland conservation or loss, including carbon storage capacity.
To propose methods of analysis that can be used to calculate consistent valuations of wetlands at a national scale.
To promote future wetland valuations that drive municipal, provincial, territorial and federal wetland policies and programs which consider first and foremost the cost of ongoing wetland loss in Canada.

Canada has lost up to 70 per cent of its wetlands in settled areas, resulting in significant long-term financial and environmental costs to the Canadian economy and to our natural environment.

Rationale

Wetland valuations are currently only available for specific regions or subregions of Canada, and the methods for undertaking these valuations varies significantly. The development of more refined and comprehensive wetland valuation methodologies is needed to improve both the scope and consistency of wetland valuations across Canada. These valuations can then provide a credible rationale for new wetland conservation and restoration policies and programming, culminating in increased carbon storage capacity, reductions in flooding and erosion and improved biodiversity protection.

Timeline

‍October 1, 2022-March 31, 2024