IDEAS home Printed from https://ideas.repec.org/a/eee/ecoser/v28y2017ipap17-27.html
   My bibliography  Save this article

Monetary value of urban green space as an ecosystem service provider: A case study of urban runoff management in Finland

Author

Listed:
  • Silvennoinen, Sveta
  • Taka, Maija
  • Yli-Pelkonen, Vesa
  • Koivusalo, Harri
  • Ollikainen, Markku
  • Setälä, Heikki

Abstract

The predicted increase in the number of urban flood events can result in substantial monetary losses to society. These costs may be alleviated by preserving ecosystem services, such as urban runoff management. We studied the monetary value of this ecosystem service by applying the replacement cost method in six catchments with varying land-use intensities in two cities in Finland. The economic analysis was based on metric data of urban runoff generation, provided by automatic monitoring stations in the catchments. A hydrological model was applied to estimate evaporation from impervious surfaces, and to simulate runoff in the catchments. Our results suggest that leaving green space unconstructed results in significant monetary savings. The cost of managing runoff correlated with land-use intensity. The ecosystem service value (ESV) was generally higher in catchments with high land-use intensity, low proportion of green space, and high costs of runoff management. Depending on the degree of imperviousness, the ESV ranged from 90,000–270,000€ha−1. Further, our results suggest that estimates of runoff generation and evaporation are key hydrological factors for assessing ESV. Our study demonstrates how the combination of field data and hydrological and monetary analyses can support regional planning in cold climates.

Suggested Citation

  • Silvennoinen, Sveta & Taka, Maija & Yli-Pelkonen, Vesa & Koivusalo, Harri & Ollikainen, Markku & Setälä, Heikki, 2017. "Monetary value of urban green space as an ecosystem service provider: A case study of urban runoff management in Finland," Ecosystem Services, Elsevier, vol. 28(PA), pages 17-27.
  • Handle: RePEc:eee:ecoser:v:28:y:2017:i:pa:p:17-27
    DOI: 10.1016/j.ecoser.2017.09.013
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2212041616301085
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.ecoser.2017.09.013?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Perrels, Adriaan & Veijalainen, Noora & Jylhä, Kirsti & Aaltonen, Juha & Molarius, Riitta & Porthin, Markus & Silander, Jari & Rosqvist, Tony & Tuovinen, Tarja, 2010. "The implications of climate change for extreme weather events and their socio-economic consequences in Finland," Research Reports 158, VATT Institute for Economic Research.
    2. Seth Payton & Greg Lindsey & Jeff Wilson & John Ottensmann & Joyce Man, 2008. "Valuing the benefits of the urban forest: a spatial hedonic approach," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 51(6), pages 717-736.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chen, Yu & Liu, Gengyuan & Yan, Ningyu & Yang, Qing & Gao, He & Su, Liya & Santagata, Remo, 2023. "Comprehensive evaluation of urban greenspace ecological values marketability through the spatial relationship between housing price and ecosystem services," Ecological Modelling, Elsevier, vol. 484(C).
    2. Cortinovis, Chiara & Geneletti, Davide, 2019. "A framework to explore the effects of urban planning decisions on regulating ecosystem services in cities," Ecosystem Services, Elsevier, vol. 38(C), pages 1-1.
    3. Ashley, Richard & Gersonius, Berry & Digman, Christopher & Horton, Bruce & Smith, Brian & Shaffer, Paul, 2018. "Including uncertainty in valuing blue and green infrastructure for stormwater management," Ecosystem Services, Elsevier, vol. 33(PB), pages 237-246.
    4. Jorge H. Amorim & Magnuz Engardt & Christer Johansson & Isabel Ribeiro & Magnus Sannebro, 2021. "Regulating and Cultural Ecosystem Services of Urban Green Infrastructure in the Nordic Countries: A Systematic Review," IJERPH, MDPI, vol. 18(3), pages 1-19, January.
    5. Sikhululekile Ncube & Scott Arthur, 2021. "Influence of Blue-Green and Grey Infrastructure Combinations on Natural and Human-Derived Capital in Urban Drainage Planning," Sustainability, MDPI, vol. 13(5), pages 1-16, February.
    6. Raviv, Orna & Shiri, Zemah-Shamir & Ido, Izhaki & Alon, Lotan, 2021. "The effect of wildfire and land-cover changes on the economic value of ecosystem services in Mount Carmel Biosphere Reserve, Israel," Ecosystem Services, Elsevier, vol. 49(C).
    7. Yanmei Li & Shaojun Wang & Qibo Chen, 2019. "Potential of Thirteen Urban Greening Plants to Capture Particulate Matter on Leaf Surfaces across Three Levels of Ambient Atmospheric Pollution," IJERPH, MDPI, vol. 16(3), pages 1-12, January.
    8. Wang, Chao & Zhan, Jinyan & Xin, Zhongling, 2020. "Comparative analysis of urban ecological management models incorporating low-carbon transformation," Technological Forecasting and Social Change, Elsevier, vol. 159(C).
    9. Hui, Ling Chui & Jim, C.Y., 2022. "Urban-greenery demands are affected by perceptions of ecosystem services and disservices, and socio-demographic and environmental-cultural factors," Land Use Policy, Elsevier, vol. 120(C).
    10. Zene Combrinck & Elizelle Juanee Cilliers & Louis Lategan & Sarel Cilliers, 2020. "Revisiting the Proximity Principle with Stakeholder Input: Investigating Property Values and Distance to Urban Green Space in Potchefstroom," Land, MDPI, vol. 9(7), pages 1-16, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sanglim Yoo & John E. Wagner, 2016. "A review of the hedonic literatures in environmental amenities from open space: a traditional econometric vs. spatial econometric model," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 20(1), pages 141-166, March.
    2. Jay Mittal, 2017. "Valuing Visual Accessibility of Scenic Landscapes in a Single Family Housing Market: A Spatial Hedonic Approach," ERES eres2017_1, European Real Estate Society (ERES).
    3. Jay Mittal & Sweta Byahut, 2019. "Scenic landscapes, visual accessibility and premium values in a single family housing market: A spatial hedonic approach," Environment and Planning B, , vol. 46(1), pages 66-83, January.
    4. Athanasios Votsis & Adriaan Perrels, 2016. "Housing Prices and the Public Disclosure of Flood Risk: A Difference-in-Differences Analysis in Finland," The Journal of Real Estate Finance and Economics, Springer, vol. 53(4), pages 450-471, November.
    5. Honkatukia, Juha & Marttila, Kimmo, 2011. "The effects of energy taxes on energy consumption in Finland between 1995 and 2004 - An historical analysis using the VATTAGE-model," Research Reports 162, VATT Institute for Economic Research.
    6. James Yoo & Thomas Frederick, 2017. "The varying impact of land subsidence and earth fissures on residential property values in Maricopa County – a quantile regression approach," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 21(2), pages 204-216, May.
    7. Antti Simola & Adriaan Perrels & Juha Honkatukia, 2011. "Extreme weather events in Finland – a dynamic CGE-analysis of economic effects," EcoMod2011 2983, EcoMod.
    8. Cyprian Chwiałkowski & Adam Zydroń, 2021. "Socio-Economic and Spatial Characteristics of Wielkopolski National Park: Application of the Hedonic Pricing Method," Sustainability, MDPI, vol. 13(9), pages 1-17, April.
    9. Lyndal Plant & Alicia N. Rambaldi & Neil Sipe, 2016. "Property value returns on investment in street trees: a business case for collaborative investment in Brisbane, Australia," Discussion Papers Series 563, School of Economics, University of Queensland, Australia.
    10. Caviglia-Harris, Jill & Biggs, Trent & Ferreira, Elvino & Harris, Daniel W. & Mullan, Katrina & Sills, Erin O., 2021. "The color of water: The contributions of green and blue water to agricultural productivity in the Western Brazilian Amazon," World Development, Elsevier, vol. 146(C).
    11. Plant, Lyndal & Rambaldi, Alicia & Sipe, Neil, 2017. "Evaluating Revealed Preferences for Street Tree Cover Targets: A Business Case for Collaborative Investment in Leafier Streetscapes in Brisbane, Australia," Ecological Economics, Elsevier, vol. 134(C), pages 238-249.
    12. Bednar-Friedl, Birgit & Kulmer, Veronika & Schinko, Thomas, 2011. "Effects of different EU climate policy scenarios on Austria’s trade and carbon balances," Conference papers 332100, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    13. Rosqvist, Tony & Molarius, Riitta & Virta, Hanna & Perrels, Adriaan, 2013. "Event tree analysis for flood protection—An exploratory study in Finland," Reliability Engineering and System Safety, Elsevier, vol. 112(C), pages 1-7.
    14. Matthew Ranson & Lisa Tarquinio & Audrey Lew, 2016. "Modeling the Impact of Climate Change on Extreme Weather Losses," NCEE Working Paper Series 201602, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised May 2016.
    15. Jun-Hyun Kim & Wei Li & Galen Newman & Sung-Ho Kil & Sun Young Park, 2018. "The influence of urban landscape spatial patterns on single-family housing prices," Environment and Planning B, , vol. 45(1), pages 26-43, January.
    16. Yoo, James & Ready, Richard, 2016. "The impact of agricultural conservation easement on nearby house prices: Incorporating spatial autocorrelation and spatial heterogeneity," Journal of Forest Economics, Elsevier, vol. 25(C), pages 78-93.
    17. Timo Assmuth & Tanja Dubrovin & Jari Lyytimäki, 2020. "Human health in systemic adaptation to climate change: insights from flood risk management in a river basin," Environment Systems and Decisions, Springer, vol. 40(3), pages 427-443, September.
    18. Jin Han Park & Dong Kun Lee & Chan Park & Ho Gul Kim & Tae Yong Jung & Songyi Kim, 2017. "Park Accessibility Impacts Housing Prices in Seoul," Sustainability, MDPI, vol. 9(2), pages 1-14, January.
    19. Pandit, Ram & Polyakov, Maksym & Sadler, Rohan, 2012. "The importance of tree cover and neighbourhood parks in determining urban property values," 2012 Conference (56th), February 7-10, 2012, Fremantle, Australia 124357, Australian Agricultural and Resource Economics Society.
    20. Cyprian Chwiałkowski & Adam Zydroń & Dariusz Kayzer, 2022. "Assessing the Impact of Selected Attributes on Dwelling Prices Using Ordinary Least Squares Regression and Geographically Weighted Regression: A Case Study in Poznań, Poland," Land, MDPI, vol. 12(1), pages 1-20, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ecoser:v:28:y:2017:i:pa:p:17-27. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/ecosystem-services .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.