Quantifying the unseen benefits: an innovative economic valuation of the social and cultural values of trees, woods, and forests at risk

TY - JOUR

T1 - Quantifying the unseen benefits

T2 - an innovative economic valuation of the social and cultural values of trees, woods, and forests at risk

AU - Saraev, Vadim

AU - Jones, Glyn

AU - O'Brien, Liz

AU - Hall, Clare

AU - McConnachie, Stephen

AU - Forster, Jack

AU - Dyke, Alison

N1 - © 2024 Crown Copyright. Published by Informa UK Limited, trading as Taylor & Francis Group.

PY - 2024/10/20

Y1 - 2024/10/20

N2 - Trees, woods, and forests in England are associated with a wide range of social and cultural values (S&CV). However, these treescapes (i.e. trees in any location) face increasing risks from pests, diseases, climate change, and biosecurity threats. This study addresses the urgent need for comprehensive estimates of S&CVrelated to England’s treescapes. Current UK policies and resource allocations are based on limited “value at risk” estimates. The study proposes a novel anchor value method for holistic S&CV valuation, resulting in an annual benefits flow ranging from £7 to £10 billion. This estimate surpasses the current natural capitalaccounts for England’s woodlands and underscores the importance of including S&CV in total ecosystem benefits assessments. The study also applies traditional methods, namely Willingness to Pay (WTP) and Travel Cost Method (TCM), to economically value S&CV of trees at risk from pests and diseases. These methods,focusing on local use values, yield similar estimates of just under £1 billion per year. This preliminary valuation invites further debate and scrutiny.

AB - Trees, woods, and forests in England are associated with a wide range of social and cultural values (S&CV). However, these treescapes (i.e. trees in any location) face increasing risks from pests, diseases, climate change, and biosecurity threats. This study addresses the urgent need for comprehensive estimates of S&CVrelated to England’s treescapes. Current UK policies and resource allocations are based on limited “value at risk” estimates. The study proposes a novel anchor value method for holistic S&CV valuation, resulting in an annual benefits flow ranging from £7 to £10 billion. This estimate surpasses the current natural capitalaccounts for England’s woodlands and underscores the importance of including S&CV in total ecosystem benefits assessments. The study also applies traditional methods, namely Willingness to Pay (WTP) and Travel Cost Method (TCM), to economically value S&CV of trees at risk from pests and diseases. These methods,focusing on local use values, yield similar estimates of just under £1 billion per year. This preliminary valuation invites further debate and scrutiny.

KW - Social and Cultural Value

KW - Economic value

KW - trees and woodlands

KW - Values

KW - Anchor

U2 - 10.1080/03071375.2024.2416317

DO - 10.1080/03071375.2024.2416317

M3 - Article

SN - 2168-1074

JO - Arboricultural Journal

JF - Arboricultural Journal

ER -