Urban Greenspace Valuation Toolkit

"Green infrastructure, such as parks, greenspaces, and other environmental features such as trees and canals, are important in urban areas for quality of life and health, and also provide space for wildlife, absorb rainwater and remove harmful air pollutants. A range of public and private sector asset owners and managers, from Local Authorities to private developers, have identified a gap in terms of practical appraisal and valuation tools to inform the business and policy case for urban greenspace investments. Without improved cases, green infrastructure is not given enough weight in decisions and is under-provided.

This project addresses this gap by supplying a web-based tool delivering appraisal and value information into business investment and policy decisions, with outputs tailored to users of the tool. It combines the rigour of academic research on green space with a robust and transparent methodology for evaluating the economic value of these spaces. The project focuses on the integration of existing planning tools, economic impact and valuation of green infrastructure for public and private users. It pilots the toolkit with public sector and development organisations to prove that the tool is fit for purpose.

Although there are valuation methodologies for several attributes of urban greenspace, there is currently no comprehensive toolkit through which land owners and/or planners can understand how these spaces are used, their impact and economic value. Existing methodologies are inaccessible and dispersed. A structured presentation of the impacts and economic value of green space assets enables decision makers to compare investment, operational and funding options before them. Furthermore, there will be innovation by incorporating location-specific information on use and socioeconomic characteristics, giving greater local insight than has previously been available."