Can Money Really Grow On Trees?
Note to Reader:
A report, released by infrastructure firm AECOM in April 2017, compiled urban data analytics across three different suburbs in Sydney, Australia, and found that for every 10 per cent increase in the canopy coverage within the street corridor, the value of properties increased by an average of $50,000 Australian.
Research Report Demonstrates that Increased Tree Canopy Boosts Property Values in Sydney, Australia
Report co-author James Rosenwax said population growth in Sydney had placed enormous pressure on existing critical infrastructure like roads and utilities, but trees were often forgotten or undervalued.
“If we don’t put a financial value on trees there is less incentive to protect them when looking at the cost benefits of new roads, bridges or buildings,” he said.
“Unfortunately, the humble street tree is often in conflict with other forms of infrastructure and development.
“Our report found that without sufficient ‘green infrastructure’ Sydney would be hotter, more polluted and could be worth $50 billion less.”
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