But anyways, what's this post about?!
A recent City of Toronto study evaluated the tree canopy in the city to be $7Bn. Hold up, how is that? Seems like a number of intangible sources of value in trees. The $7Bn amounts to the replacement value - what it would cost to re-plant (and apparently age, by calculating some NPV - also sounds a bit sketch) all the trees in the city. While it's a pretty decent figure, I think it could be much higher considering:
- The obvious carbon capturing
- The shade / insulation it provides for homes, reducing energy costs
- Positive impact on productivity (people's brains are shown to work better / more creatively even from brief exposure to green space)
- Positive impact on health (more time outside in green space, less stress, less heart-attacks)
- Preservation of biodiversity
- Property value bump