News

Value of woodlands to the UK economy

Published by: at 4th March 2020

Filed under: Uncategorised

The Government calculates the value of woodlands to the UK economy

IT OFFICIAL, woodlands provide a value of £5.3b per year to the UK economy according to the Office of National Statistics (ONS) report ‘Woodland natural capital account, UK:2020’ which looked at the various benefits of existing woodlands and calculated the benefits the equivalent boost in cash terms.

The ONS report found that the positive effect of trees benefitted the NHS to the tune of almost £1b per year just by removing pollution from the air.

Highlights from the report include:

£938m     saving in health costs in 2017 due to air pollution removal

18.1m      tonnes of CO2 removed from the air in 2017

£130bn    overall equivalent asset value of woodland to the UK economy in 2017

£5.3bn     total annual value of woodland, based on figures from 2017

This report underlines the important role trees play not only sequestering CO2 and improving biodiversity but in economic terms too. Increasing the tree cover across the UK to address the nature and climate emergency makes sound economic sense.

The decisions we make now about how we address these challenges and where we increase tree cover on a massive scale is an unprecedented opportunity to transform the UK into a better place for people and nature.

Follow this link for the full report

http://www.ons.gov.uk/economy/environmentalaccounts/bulletins/woodlandnaturalcapitalaccountsuk/2020