By Maurice Shasha
// Mon 11th
Living near Hyde Park is no doubt something most of us would enjoy, but the pleasure Hyde Park and its trees give us has been confirmed. According to the arboricultural consultancy Treeconomics, the trees in Hyde Park 'an amenity asset value of £173 million'.
Hyde Park, one of London's eight Royal Parks, is a favourite destination of local residents and tourists alike, but its trees offer a great deal of value - £173 million to be precise.
According to a report from Treeconomics, a consultancy company which calculates the value of trees and works with local authorities and businesses to promote the value of trees in urban environments, the trees in Hyde Park hold an 'amenity asset value of £173 million'.
In the same report, which was commissioned by Royal Parks, the trees in Hyde Park are responsible for removing 2.71 tonnes of pollution and for storing 3,872 tonnes of carbon every year.
Not only do trees provide shade from the sun and shelter from the rain, but they provide a habitat for birds and other animals, absorb carbon dioxide and emit oxygen, improve air quality, preserve the soil, aid the prevention of flooding, and are essential to life.
Ian Rodger, Tree Manager at Royal Parks, said of the findings: "This report places an amenity value of £52,378 each on some of our plane trees. I have come to believe in the practice of putting a monetary value on trees and this proves they are worth every penny."
This report from Treeconomics, and others before it, show that trees and public parks offer real economic value in addition to the immeasurable contribution they make to the wellbeing, prosperity and health of local communities in London and across the UK.
Despite being something of an urban sprawl, London has a high proportion of green spaces, with Hyde Park, covering some 350 acres, being just one of them. Indeed, Hyde Park is one of the reasons why property surrounding the park is so valuable and so highly sought-after.