B.C.’s Elephant Hill wildfire results in losses of $1B per year: Indigenous report

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B.C.’s Elephant Hill wildfire results in losses of $1B per year: Indigenous report
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VANCOUVER — An Indigenous-led report into a massive wildfire nearly six years ago that destroyed more than 100 homes and scorched a vast swath of British Columbia's Interior says the blaze resulted in up to $1 billion per year in ongoing nature and e

The Elephant Hill wildfire burned more than 1,900 square kilometres of forests, grasslands and properties in the summer of 2017, directly affecting numerous First Nations and other communities.

Todd, who's a chartered professional accountant and has a master's degree in environmental management, said people may be uncomfortable attaching a monetary value to the environment and resources, but if "we don’t count them, they are effectively valued at zero." The research estimated a range that varied widely for some resources. For instance, itdetermined the lost value in regulating water and stabilizing soils to mitigate floods and landslides was between $58 million and $101 million per year.

She reiterated that the numbers are estimates, but researchers "used well-established ecological economics approaches to valuing ecosystem services." The report says assigning dollar values have limitations, but should still be used as a "tool for ensuring that nature’s services do not get undervalued in decision-making."The report highlights the need for greater investment in Indigenous-led restoration of fire affected areas, she said.

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