In a new report, UMD Environmental Finance Center's Dr. Jennifer Egan and a team led by the Trust for Public Land identify the economic benefits provided by parks in New York City.
Nature provides important services and benefits to humans, and valuation of an area's natural resources helps people better understand that significance. The importance of parks for human well-being is better understood than ever before. Parks and green space in urban areas, in particular, provide aesthetic, recreation, and health benefits which are vital to the urban resident’s well-being.
New York City is experiencing challenges to funding public parks – even though these spaces provide much needed respite from the impacts of the pandemic. Benefit valuation is one way to communicate to decision makers the importance of continued public funding in natural infrastructure. Learn more about the project or view the final report.