This article was originally published on Sustainable Brands.
“The value of ecosystem services has, up until recently, gone largely unrecognized by governments and corporations. While nature is inherently valuable for a variety of obvious reasons, putting a price tag on it isn’t exactly a straightforward process. Companies such as Kering and Dow have begun to incorporate natural capital accounting into their practices, an intelligent move that offers a number of benefits across the board in terms of long-term sustainability — both economically and environmentally speaking. But what can local governments do to account for the value of nature in the urban environment?
New York City’s Department of Parks & Recreation (NYC Parks), the branch of local government responsible for the city’s public spaces, squares and parks, has found a way to calculate the ecological and economic benefits of the most basic of urban features: street trees…”
Read on at: Sustainable Brands.