An ecosystem service and natural capital monetary assessment has been undertaken to understand the wider economic value and benefits of Silverdale Country Park, which is owned by the Land Trust. Both physical and monetary assessments of ecosystem services were produced, making use of academic, commercial and economic models based on real site data. The annual economic value of Silverdale Country Park is estimated at £2.6 million, with the main benefits perceived as: carbon storage and sequestration; water retention, storage, purification and flood alleviation and; health and education benefits to the local population using the park. The main objectives of the assessment are to: understand how the ongoing investment in Silverdale Country Park results in wider environmental and social benefits; understand how the wider benefits can aid in supporting future investment of open spaces for community benefit; and demonstrate the business case for enhancement of open spaces through the monetisation of ecosystem services.
Interserve Consulting, for the Land Trust
Which ecosystem services were focused on?:
- Health and well-being
- Climate regulation
- Detoxification and purification in air, soils and water
- Erosion control
- Flood control