Urban Trees: Underestimated Economic Assets Yielding Substantial Returns

Key Quotes

"what i'm trying to do is quantify the benefits of urban trees there's the classic dilemma in economics you know if you can't count it it doesn't count what i'm trying to do is count it so when a city government is deciding on its budget it's not just thinking about roads and things like that it also thinks about the benefits that trees provide"

Jeffrey Donovan, an economist, explains his goal is to assign a monetary value to the advantages provided by urban trees. Donovan aims to overcome the economic challenge where intangible benefits are often overlooked because they are not easily measured. By quantifying these benefits, Donovan seeks to ensure that city budgets consider the full value of trees alongside traditional infrastructure like roads.

"we found at least a 17 degree temperature difference between the hottest and coolest areas we know that planting trees to reduce heat is important because high heat events have a big impact on human health damaged roads and infrastructure power outages lower quality of life increased drought increased water use and stress on wildlife populations"

Jana Dilly, an urban forester, highlights the significant temperature disparities within cities and the critical role trees play in mitigating extreme heat. Dilly points out that high heat events have severe consequences for public health, infrastructure, and overall quality of life. Planting trees is presented as a vital strategy to combat these negative impacts.

"communities of color are more likely to live in hotter neighborhoods with fewer trees so it creates an urgency for cities to plant trees with an environmental justice lens"

This quote emphasizes the disproportionate impact of heat islands on communities of color due to historical urban planning decisions. The speaker argues that this disparity necessitates a focus on environmental justice when implementing urban tree planting initiatives. This approach aims to rectify past inequities by prioritizing tree planting in underserved neighborhoods.

"it's kind of like diversifying your stock portfolio you don't want to put all your chips on one tree"

This analogy, used by an unnamed speaker, likens planting a variety of tree species in a city to diversifying an investment portfolio. The speaker explains that relying too heavily on a single type of tree makes the urban forest vulnerable to pests and diseases. A diverse selection of species enhances the overall resilience of the urban ecosystem.

"if you think of a tree along the street and say that tree is at the end of its life and it's got some decay and some risk factors and we need to take that tree out that may cost us quite a bit because we may need to close some lanes of traffic we may need to bring in some special equipment we may need to have special staff that can climb the tree to cut branches we may need to work around power infrastructure and make sure that we're being safe there"

This quote details the significant costs and logistical challenges associated with removing a mature or hazardous tree from a city street. The speaker outlines the need for traffic management, specialized equipment, skilled personnel for climbing and dismantling, and careful coordination around existing infrastructure like power lines. These factors contribute to the substantial expense of tree removal.

"i found the value of urban trees quite high because it's an aggregate measure of all the values that urban trees provide donovan found that a single tree in front of a home raised that home's sale price by more than 7 000 moreover that same tree increased the value of adjacent homes within a 100 foot radius by a combined sum of around 13 000"

Jeffrey Donovan reports on his study that found urban trees significantly increase property values. Donovan's research indicates that a single tree can add over $7,000 to a home's sale price and contribute an additional $13,000 to the value of nearby properties. Donovan attributes this high value to the cumulative benefits that trees offer.