Natural capital accounting in urban parks
The public benefits of parks, most importantly physical and mental health of local residents, is highlighted by Vivid’s recent work with the National Trust. This briefing takes the simple but powerful step of combining evidence on health and other benefits of urban parks and green space and presenting it in a financial reporting statement: a natural capital account. The City of Sheffield’s parks, for example, offer £1.2 billion of benefits, a figure 34 times greater than expenditure on service provision. Work on other cities and rural areas by Vivid Economics is following, to uncover hidden stories of their value.
A brief presentation for the Prosperous Cities Conference summarizes key findings.