Is it possible to place a dollar figure on the health and environmental benefits that come from having more green spaces? The Green Infrastructure Economic Framework is a new initiative that has set out to do just that.
Businesses are constantly working to meet the “triple bottom line”, that is, to assess the value of operations not only from a financial point of view but also the social and environmental impacts of their work. This concept has arguably been a point of controversy and confliction within infrastructure planning.
Governments, developers, urban designers and residents all instinctively understand that green infrastructure is important but they are unable to effectively evaluate how much they should have and of what kind.
The 202020 Vision Plan aims to create 20 percent more green space in urban areas by 2020 by utilising tools such as the Green to Gold Calculator.
The calculator attempts to quantify the social, health and financial dividends that green infrastructure will pay over time, not only by way of positive outcomes but also in terms of the opportunity cost of not having it.
The Green Infrastructure Economic Framework was specifically tailored to play a key role in the development of the To Gold Calculator solution. By putting a dollar figure on green infrastructure it may be possible to enhance the business case for increased urban greening projects in our cities.
David Uhlmann, Wolter Consulting Group’s Green Star Communities accredited urban and landscape design manager, sees the great potential of the Green to Gold Calculator.
"It is good to see an attempt being made to quantify the social, economic and environmental value-adds that come from the inclusion of green space in new developments. The lifestyle benefits for residents are significant, and this leads to increased saleability of lots," he says.
To see the full 202020 Vision Plan click here.
If you would like to discuss any ideas or questions you might have regarding green infrastructure please don’t hesitate to contact our experienced team at Wolter Consulting Group.