At the City of Burnside we love trees. Trees provide a range of benefits such as removing air pollutants, producing oxygen and storing carbon. These ecosystem services can be measured economically through a scientific peer reviewed software program used globally called i-Tree Eco.
i-Tree Eco was used by the City of Burnside to assess those trees growing within Hazelwood Park. The assessment included 507 trees representing about half the park’s tree population (48%). The assessment included all Significant and Regulated trees, as well as a random sample of non-regulated trees to reflect the park’s tree population.
The net economic value of those trees assessed was estimated at $8,789,879. This includes both the replacement value ($8,759,836) and ecosystem services provided ($30,043).
The assessment identified that approximately 20% of the ecosystem services value was provided annually. These trees collectively provide $5,646 worth of ecosystem services each year through their role in carbon sequestration, air pollution removal and stormwater interception. The total value of carbon stored was calculated at $24,397.
These values are highly conservative as it does not include the qualitative benefits trees provide, such as helping to increase housing value, attract investment and making communities feel safer.
You can see why at the City of Burnside we love trees.