Canada launches New Expert Taskforce on Natural Capital Accounting and Nature Financing

EcoAdvisors' Hari Balasubramanian is one of 15 experts appointed to the Expert Taskforce on Natural Capital Accounting and Nature Financing, which will provide independent advice on how Canada can better measure, value, and finance nature as a foundation of long-term economic prosperity. Full announcement here.

Announced in August by the Honourable Nathalie Provost, Secretary of State (Nature), and the Honourable Julie Dabrusin, Minister of the Environment, Climate Change and Nature, the Taskforce brings together a distinguished group of experts from across Canada representing conservation, Indigenous-led conservation, finance, economics, academia, business, and public policy.

Canada has a tremendous wealth of natural capital and is in a unique position to help reclaim nature’s role in underpinning the economy and humanity. I am looking forward to getting started and am grateful for the opportunity to serve. - Hari Balasubramanian

Advancing Canada's Nature Strategy

The new Taskforce forms part of the federal government's broader vision outlined in A Force of Nature: Canada's Strategy to Protect Nature, which includes a $3.8 billion commitment to protect and restore nature across the country.

Canada's natural assets are fundamental to the country's long-term prosperity, yet the investment required to protect and restore nature far exceeds current funding levels. Globally, the biodiversity financing gap is estimated to exceed US$1 trillion annually, while existing investments remain heavily reliant on public funding. Closing this gap will require new approaches that mobilize private capital alongside government investment.

Recognizing this challenge, Pillar 3 of Canada's Nature Strategy focuses on valuing nature more effectively and accelerating investment in nature-positive outcomes. By improving how natural capital is measured, accounted for, and integrated into decision-making, Canada aims to create the conditions for increased public-private collaboration, innovative financing mechanisms, and long-term investment in conservation, restoration, and Indigenous-led stewardship.

The launch of the Taskforce is a key step in advancing this vision. The Taskforce will develop recommendations to help better recognize the economic value of nature, incorporate natural capital into public and private sector decision-making, and attract greater private investment to support Canada's nature and biodiversity goals.

Why Natural Capital Accounting Matters

Canada's forests, wetlands, grasslands, coastal ecosystems, and other natural assets provide immense value to society and the economy. These ecosystems not only store carbon, regulate water, reduce flood risks, and support biodiversity; they also sustain communities and industries. These ecosystems are critical infrastructure that underpin the economy and humanity.

Nature underpins the global economy. Nature underpins humanity. Nature is everything.

Natural capital accounting seeks to address this gap: ecosystem services are not adequately reflected in traditional economic and financial systems. By integrating the value of nature into decision-making processes and improving how governments, businesses, investors, and communities understand nature's contributions, Canada can make more informed decisions that support both economic growth and ecological resilience.

At the same time, nature financing is emerging as one of the most important frontiers in sustainable finance. Developing credible pathways for investment in ecosystem protection, restoration, and stewardship will be essential for achieving Canada's biodiversity, climate, and economic objectives.

The establishment of the Taskforce signals a growing recognition that protecting nature is not only an environmental imperative but also an economic one.

The opportunity before us is clear: to build an economy that recognizes nature as a foundational asset, integrates its value into decision-making, and mobilizes the capital needed to sustain healthy ecosystems, resilient communities, and long-term prosperity.