| Title: |
The use of economic valuation to create public support for green infrastructure investments in urban areas
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| Resource Type: |
document --> technical publication --> journal article
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| Country: |
EU Projects
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| Year: |
2011 |
| Availability: |
Landscape and Urban Planning. 103:198-206.
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| Author 1/Producer: |
Valerie Vandermeulen
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| Other Authors/Producers: |
Ann Verspecht, Bert Vermeire, Guido Van Huylenbroeck, Xavier Gellynck
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| Author / Producer Type: |
EC Project
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EUGRIS Keyword(s): |
Contaminated land-->Cost benefit analysis-->Cost benefit analysis overview
Contaminated land-->Wider impacts / sustainability-->Assessment tools
Contaminated land-->Wider impacts / sustainability-->Social
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| Short description: |
A new study has proposed a method to place monetary value on green infrastructure at both a project and regional scale, which illustrates the value of investing in green infrastructure to the public and other stakeholders.
With increasing urbanisation and its subsequent negative effects on the environment, the need for green spaces is becoming increasingly recognised. Although it is difficult to define ‘Green infrastructure’, a network of open spaces, parks, waterways, trees and woodland that protect and enhance nature, and provide health and economic benefits, presents a possible solution to this problem. Decision makers need to know that investment in it will provide an economic return at both a regional and a community scale.
Using results from the EU VALUE project1, the study produced a combined local-regional economic valuation model for assessing green infrastructure investment. At the project level, the study applied a cost-benefit analysis, using the concept of ‘Total Economic Value’, which attempts to capture the value of the different components of natural resources. Costs considered by this approach include land purchasing costs, design and construction costs and maintenance costs of the infrastructure, whilst benefits include production and regulating ecosystem services such as air quality improvement and climate change mitigation, as well as improved health from cycling, reduced accident risks, as well as recreational benefits. At the regional level, a ‘multiplier analysis’ was used, based on an input-output approach to consider not only the positive impact on local industry, but also on wages and the subsequent impact from better wages and job creation on the regional economy.
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Submitted By:
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Professor Paul Bardos WhoDoesWhat?
Last update: 27/01/2012
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