The economics of public green space

The economics of public green space

4.12.2017 - Posted by Kane Travis

In a relatively recent trip to Bangkok I was confronted by the urban environment that seemed go on and on with little open greenspace to rest your eyes.  I googled it.  Apparently Bangkok has on average 3m2  of green space per person (compared to 15 m2 for Sydney).

All of us who live in cities with ample green space know it is important, but more recently the quantification of the benefits has been advancing Vivid Economics recently produced a good document to produce a natural capital account of London’s green spaces.  Closer to home a NESP project ‘Benefits of Urban Green space in the Australian Context and Griffith Business School produced some very good work earlier on in defining public green space and life satisfaction in urban Australia. 

Alluvium and Natural Capital Economics have become highly involved in advancing the understanding of social and economic benefits of green infrastructure and green open space in cities.  Together we are currently supporting the policy development for naturalising creeks in Sydney, and further south, supporting Melbourne Water to review research on the economic values of waterways as part of the development of an urban constructed waterway framework.