What a beautiful time of year in upstate New York. As the leaves are beginning to change on the Rochester trees, the beauty of autumn surrounds us! Ahhhhhhh. Be sure to take some time out of your day soon to enjoy the foliage right here on UR’s very own Arboertum.
As planet lovers we are all well aware of the ecological and environmental benefits that trees serve. Without a doubt there is intrinsic value, but have you ever tried to put a dollar amount on those benefits? Dan Scheid, Manager of Horticulture and Grounds, has attempted to do just that by using the USDA Forest Service’s i-Tree ECO model, plugging in the River Campus’s tree inventory data, as well as local weather and environmental information. Here is what he came up with:
The combined value of benefits for River Campus trees from their compensatory value, air pollution removal, carbon storage and sequestration, and water interception is over $3.3 million, with an average of $2,346 per tree. The breakdown of economic benefit by cateogry is:
- Compensatory value = $3,252,240
- Air pollution removal = $13,831
- Carbon storage and sequestration = $37,627
- Water intercepted and avoided runoff = $1,970
Now there’s some food for thought. The next time you are enjoying the beautfiul colors displayed by the fall trees, just think of the multi-million dollar value that the trees provide.
Trees have always been valuable to me, but I never tried to value them. What a great find! I appreciate your sharing.
I always knew that trees were valuable, but I never attempted to place a dollar amount on them. This is amazing! Thanks for sharing.
What, exactly, are the compensatory values? Amenity values? Estimated value of timber? And are these stated preference values or how else are they determined?
By the above, there are 1406 trees on campus? I would have bet more. But if we remove the aesthetic/timber/compensatory values (which are of course important), then trees are in total only “worth” $53,428? That’s a stock, not a flow number. At 1400 trees this is about $38 per tree worth (again a stock, not a flow) of environmental benefits per tree.
What is the carbon storage being valued at per ton of CO2?