In a society where money talks, and talks loudest, a major Canadian bank has put a dollar value on the trees in the country’s biggest city Toronto. Environmentalists realized a while ago that they could further their cause by getting society to understand the value of services provided by nature, and it looks like the message is getting through.
Billion-dollar services provided
TD Economics says the 10 million trees in Toronto are worth at least $7 billion for several services they provide. They block a lot of snow and rain saving the city services from dealing with it. They help manage temperature by blocking cold winds in winter and offering shade in summer. And they remove about a quarter of all emissions from the city’s industries.
It costs the city about $4.20 a year to maintain the trees, but for every dollar spent the trees return $3.20, according to the bank’s calculations.
They also boost property values which in turn increases tax revenues for the city.
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