Quantifying the unseen benefits:an innovative economic valuation of the social and cultural values of trees, woods, and forests at risk

Trees, woods, and forests in England are associated with a wide range of social and cultural values (S&CV). However, these treescapes (i.e. trees in any location) face increasing risks from pests, diseases, climate change, and biosecurity threats. This study addresses the urgent need for comprehensive estimates of S&CV related to England’s treescapes. Current UK policies and resource allocations are based on limited “value at risk” estimates. The study proposes a novel anchor value method for holistic S&CV valuation, resulting in an annual benefits flow ranging from £7 to £10 billion. This estimate surpasses the current natural capital accounts for England’s woodlands and underscores the importance of including S&CV in total ecosystem benefits assessments. The study also applies traditional methods, namely Willingness to Pay (WTP) and Travel Cost Method (TCM), to economically value S&CV of trees at risk from pests and diseases. These methods, focusing on local use values, yield similar estimates of just under £1 billion per year. This preliminary valuation invites further debate and scrutiny.