In Canada, natural assets such as forests, wetlands, biodiversity and wildlife provide an array of ecosystem “services” that are far too often undervalued or go unnoticed in economic policy and regulations. …Properly valuing and managing natural assets is crucial to avoid potentially costly policy mistakes, especially given the complexity and adaptivity of economic, natural and other systems. Ill-suited approaches to achieve short-term goals can cause medium and long-term problems including building on floodplains or near fire zones with their future damage risks, housing relocation needs, increased insurance costs, etc. …Government development policy and regulation needs to integrate the valuation of natural assets into its planning and implementation. The use of tools like natural capital accounting and ecosystem services valuation helps assign a monetary value to these assets, providing a tangible figure to inform policy and improve decision-making.