The Urban Forest as an Asset Class
We all know that street trees have value; you frequently hear statistics about how much energy savings they offer, or how much they add to the selling price of a home. And in some cases, for example with heritage trees or in environmentally sensitive areas, trees are identified as assets for planning and permitting purposes. Yet the larger urban forest, that interconnected population of trees in the built environment, isn’t recognized as an asset on city balance sheets – where the real work of budgeting, financing, and accounting gets hashed out. But that may be changing.