Cool cities: The value of urban trees

Lu Han, Stephan Heblich, Christopher Timmins and Yanos Zylberberg

Bristol Economics Discussion Papers from School of Economics, University of Bristol, UK

Abstract: As urban populations grow, more people face extreme heat, increasing demand for natural cooling. Urban trees offer various amenities, including cooling benefits, yet their economic value is hard to quantify. This paper estimates the implicit value of urban trees by exploiting the Emerald Ash Borer infestation caused by an invasive beetle that kills ash trees in Toronto as an exogenous shock. We find that a one-percentage-point increase in a postcode’s tree cover raises property prices by 1.16% and reduces exposure to extreme heat, pollution, and energy consumption. These findings underscore trees as a cost-effective, practical strategy for mitigating urban warming.

Date: 2025-04-02
New Economics Papers: this item is included in nep-env and nep-ure
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Working Paper: Cool cities: The value of urban trees (2024)
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