Economic Benefits of Green Infrastructure

Advocacy

Economic Benefits of Green Infrastructure

In recent years, thinking on green infrastructure has moved from ecology to economics. Resources such as the countryside, coast, wetlands, urban parks, street trees and their ecosystems are seen as critical for sustainable economic growth and social goals, not just a way of supporting wildlife and ‘the environment’.

Consultants GENECON LLP are working to establish practical ways of valuing Green Infrastructure, and raising awareness of the strategic importance of Green Infrastructure to sustainable growth. The consortium is led by Natural Economy NW and managed by the Tees Valley JSU, and includes a wide range of agencies including northern RDAs and the Northern Way.

The ultimate aim of the work GENECON is undertaking this year is to help move investment in GI into the mainstream of public and other funding. GENECON has been asked to develop practical approaches to valuing GI, based on existing methods used within government and its agencies as well as the private and third sectors, and building on earlier work in this field by Amion and ECOTEC. An important part of the contract is to assist Tees Valley Joint Strategy Unit in developing a Business Case for the Green Infrastructure Strategy for the Tees Valley City Region.

GENECON has consulted widely in the first phase of its work, preparing a paper on Green Infrastructure and related concepts and potential beneficiaries of GI investment. That paper, which draws together definitions of Green Infrastructure and related concepts (ecosystem services, grey infrastructure, critical infrastructure, quality of place etc), has been published in draft on GENECON’s website.

The consultants are now in the second phase of work, gathering and developing methods for valuing the economic, social and environmental impact of GI investment. Findings, including an operational toolbox of valuation methods will be disseminated later this year.

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