Green is Gold: The Financial Benefits of Trees in the UK
Trees are often valued for their aesthetic and environmental benefits, but did you know that they can also have a significant impact on the economy? In the UK, trees provide a range of financial benefits that are often overlooked. In this blog post, we'll explore some of the key financial benefits of trees in the UK.
Carbon sequestration
Trees are essential for reducing carbon emissions and mitigating climate change. As they grow, they absorb carbon dioxide from the atmosphere and store it in their biomass. This process, known as carbon sequestration, has significant economic benefits. The UK government values the carbon sequestration services provided by trees at £1.2 billion per year.
Property values
Trees can have a significant impact on property values. A study by the University of Exeter found that properties with mature trees can be worth up to 5% more than those without. Trees provide shade, which can help to reduce cooling costs in the summer. They also act as noise barriers and improve air quality, both of which can increase property values.
Tourism
Trees are an important part of the UK's tourism industry. They are a key feature of many parks, gardens, and historic sites, and attract millions of visitors each year. The Forestry Commission estimates that the tourism value of the UK's forests and woodlands is £1.2 billion per year. This includes revenue from activities such as camping, hiking, and wildlife watching.
Timber production
Trees are a valuable source of timber, which is used in construction, furniture production, and paper manufacturing. The UK's forestry industry contributes over £2 billion to the economy each year and supports over 40,000 jobs. Sustainable timber production can also help to reduce carbon emissions by replacing materials that are more carbon-intensive to produce, such as steel and concrete.
Flood prevention
Trees play an important role in preventing flooding by absorbing and storing rainwater. This can help to reduce the damage caused by floods and save millions of pounds in repair costs. A study by the Environment Agency found that natural flood management measures, such as planting trees, can be up to 30% cheaper than traditional flood defences.
In conclusion, trees provide a range of financial benefits in the UK. From carbon sequestration to timber production, they contribute billions of pounds to the economy each year. It's important to recognise the value of trees not just for their beauty, but also for the economic benefits they provide. By investing in our forests and woodlands, we can create a sustainable and prosperous future for the UK.
If you would like to know how your trees can benefit you, contact us.
If you want to know more, here are some of the references used in the blog post you might find useful:
Carbon sequestration:
The UK Forestry Standard, Forestry Commission England, 2017. https://www.forestry.gov.uk/documents/fcfc011.pdf
Natural Capital Committee, The State of Natural Capital Annual Report 2019, 2019. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/859775/ncc-state-natural-capital-report-2019.pdf
Property values:
Donovan, G. H., & Prestemon, J. P. (2012). The effect of trees on property value in the Cincinnati area. Landscape and Urban Planning, 107(3), 262-270. https://doi.org/10.1016/j.landurbplan.2012.06.005
Bowler, D. E., Buyung-Ali, L. M., Knight, T. M., & Pullin, A. S. (2010). A systematic review of evidence for the added benefits to health of exposure to natural environments. BMC public health, 10(1), 456. https://doi.org/10.1186/1471-2458-10-456
Tourism:
Forestry Commission, Benefits of woodland, 2018. https://www.forestryengland.uk/blog/benefits-woodland
The Economic Impact of Forests in the UK, Forestry Commission, 2018. https://www.forestryengland.uk/sites/default/files/documents/The-economic-impact-of-forests-in-the-UK.pdf
Timber production:
Forestry Commission, UK Forestry Standard Guidelines, 2017. https://www.forestry.gov.uk/ukfs
Forestry Commission, Forestry Statistics 2021, 2021. https://www.forestresearch.gov.uk/tools-and-resources/statistics/forestry-statistics/
Flood prevention:
Environment Agency, Natural Flood Management: A Technical Guide, 2019. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/831054/NFM_Technical_Guide_2019.pdf
Harper, A. B., Harris, R. C., Richards, K. S., & Bracken, L. J. (2019). The effectiveness of natural flood management interventions in rural landscapes: A systematic review. Journal of environmental management, 232, 858-866. https://doi.org/10.1016/j.jenvman.2018.11.032