An Application of the Sustainable Asset Valuation (SAVi) Methodology to Pelly's Lake and Stephenfield Reservoir, Manitoba, Canada

The report evaluates the financial value of nature-based infrastructure in Manitoba, Canada, specifically Pelly's Lake (a natural wetland) and Stephenfield Reservoir (a naturalized built reservoir). Using the SAVi methodology, it calculates the value of services such as irrigation, water storage, nutrient removal, and carbon sequestration. The analysis finds that both assets are significantly more cost-effective than equivalent grey infrastructure. For Stephenfield Reservoir, the cumulative discounted value of enabled economic activity is CAD 6.07 billion by 2050, while replacing its services with grey infrastructure would cost CAD 5.33 million in capital. For Pelly's Lake, ecosystem services are valued at approximately CAD 60 million, whereas equivalent grey infrastructure would cost CAD 36.99 million. The report argues that maintaining these natural assets optimizes value for money and supports climate adaptation against floods and droughts.

• Stephenfield Reservoir provides highly cost-effective irrigation and water storage services, enabling economic activity with a cumulative discounted value of CAD 6.07 billion by 2050, while its operation and management costs are only CAD 256,000.
• Replacing the irrigation and water storage services of Stephenfield Reservoir with grey infrastructure would require CAD 5.33 million in capital costs and approximately CAD 300,000 in maintenance, both of which exceed the current reservoir's maintenance costs.
• Pelly's Lake provides ecosystem services with a cumulative discounted valuation of approximately CAD 60 million between 2019 and 2050, with nutrient removal being the largest contributor.
• The cost of building and operating grey infrastructure to replace the services provided by Pelly's Lake is estimated at CAD 36.99 million in the baseline scenario, with carbon sequestration replacement being the most expensive component at CAD 23.1 million.
• Under a climate change scenario, the value of flood protection provided by Pelly's Lake increases by 43.22% compared to the baseline, mitigating approximately CAD 320,200 in flood damages.
• If Pelly's Lake were utilized for future irrigation services, it could generate total benefits of CAD 15.7 million, including agriculture GDP, tax revenues, and discretionary income.
• Climate change is projected to increase precipitation variability and shift patterns in Manitoba, with increases in spring, autumn, and winter and decreases during summer months, which may increase flood risks and water demand for irrigation.

APA

Bassi, A. M., Pallaske, G., & Stanley, M. (2019). An Application of the Sustainable Asset Valuation (SAVi) Methodology to Pelly's Lake and Stephenfield Reservoir, Manitoba, Canada. International Institute for Sustainable Development. https://www.iisd.org/system/files/publications/savi-pellys-lake-stephenfield-canada-en.pdf

Chicago

Bassi, Andrea M, Georg Pallaske, and Madeline Stanley. An Application of the Sustainable Asset Valuation (SAVi) Methodology to Pelly's Lake and Stephenfield Reservoir, Manitoba, Canada. International Institute for Sustainable Development, 2019. https://www.iisd.org/system/files/publications/savi-pellys-lake-stephenfield-canada-en.pdf.

Wikipedia

{{cite report |last1=Bassi |first1=Andrea M |last2=Pallaske |first2=Georg |last3=Stanley |first3=Madeline |title=An Application of the Sustainable Asset Valuation (SAVi) Methodology to Pelly's Lake and Stephenfield Reservoir, Manitoba, Canada |publisher=International Institute for Sustainable Development |date=June 2019 |url=https://www.iisd.org/system/files/publications/savi-pellys-lake-stephenfield-canada-en.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{bassi2019application, author = {Bassi, Andrea M and Pallaske, Georg and Stanley, Madeline}, title = {{An Application of the Sustainable Asset Valuation (SAVi) Methodology to Pelly's Lake and Stephenfield Reservoir, Manitoba, Canada}}, institution = {International Institute for Sustainable Development}, year = {2019}, month = jun, url = {https://www.iisd.org/system/files/publications/savi-pellys-lake-stephenfield-canada-en.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }