Green Infrastructure’s contribution to economic growth: a review

The purpose of this report is to assess whether investment in Green Infrastructure increases economic growth, based on the available evidence. We take Green Infrastructure (GI) to mean a planned approach to the delivery of nature in the city in order to provide benefits to residents1. This includes features such as street trees, gardens, green roofs, community forests, parks, rivers, canals and wetlands. Economic growth is defined as an increase in economic activity as measured by Gross Domestic Product (GDP). Specifically we are interested in whether investment in GI increases GDP compared to what would have happened without the investment. We approached the question in two ways, firstly considering the weight of evidence supporting relevant logic chains and secondly reviewing case studies

Valuing Nature through multiple lenses: highlights from the Valuing Nature PCT Programme (2014–2021)

This is the final report for the Valuing Nature Programme. The aim of the report is less about sharing its achievements, but about discussing what worked and what did not work as well, in the hope that recently initiated and future programmes may benefit from the lessons learned

Economic valuation of ecosystem goods and services: a review for decision makers

There is increasing interest in the use of economic valuation of ecosystem goods and services for a wide variety of purposes. These include relatively familiar uses in project appraisal and more novel applications in advocacy, performance tracking and accounting in public and private settings. Decision makers who use valuation information need to understand the background, strengths and weaknesses of these approaches. The methods have a strong foundation in economic theory and offer a rapidly growing evidence base, improving ability to evaluate a broad range of ecosystem goods and services. Nevertheless, there are theoretical and practical limitations that need to be understood and kept in mind when interpreting results. In this paper, we briefly review the economic valuation methods and situate them in their historical and theoretical contexts. We assess the main critiques, attempts at resolving them, and implications for the usefulness of the methods in different contexts. We examine the main barriers and opportunities for wider uses of valuation evidence, and draw conclusions on the appropriate role of valuation in future, as a tool for aiding reflection and deliberation processes

Pricing Cultural Heritage

A growing determinant of leisure travel decisions has been the demand for cultural destinations. This has presented complex challenges with regards to the correct management of major cultural resources. Management options can be assessed in terms of three criteria of performance: access, financial sustainability and environmental sustainability. This paper shows that a promising means of reconciling these desirable objectives is to harness the potential of economic pricing strategies (such as entry charges), where data on willingness to pay for visits are based on non-market valuation methods. A real-life illustration is provided by examining the case of the Machu Picchu Historic Sanctuary in Peru. It is shown that this approach can usefully inform expected changes in the entry fee level and structure not just of Machu Picchu but cultural destinations and resources more generally.