23rd November 2017
For the first time, the total value of London's green spaces, and the value of the benefits they provide to people in London, has been assessed. The findings were published today in a report funded by the Greater London Authority, National Trust and Heritage Lottery Fund.
London is one of the world's greenest capital cities, with an extensive network of public parks and green spaces, though access to these varies across the city. headline figures in the report include:
- London's public parks have a gross asset value in excess of £91 billion
- The opportunities for exercise, relaxation, social contact and tranquillity offered by the capital's green spaces result in £950 million of avoided health costs each year
- For each £1 spent on London's parks by local authorities and their partners, city residents enjoy at least £27 in value
- The value of recreational activities in the parks is estimated to be £926 million per year
- £5 billion of public benefits is provided every year by the capital's parks and green spaces
The report provides a compelling evidence base for the case for investing in public green spaces. Local authorities in London, as around the country, are facing significant budgetary contraints and need to find new ways of supporting the provision and maintenance of parks. The Mayor of London has committed to establishing a Green Spaces Commission to work with London boroughs to find more sustainable ways of managing parks and green spaces.
Read more about London's Natural Capital Account