Valuing ecosystem services of urban forests and open spaces: Application of the SEEA framework in Australia
We used the System of Environmental-Economic Accounting (SEEA) framework to investigate the costs and benefits of alternative long-term management strategies for living infrastructure in Canberra, Australia. Spatially explicit data, i-Tree Eco, and benefit transfer methods were used to estimate the stocks and flows ecosystem services benefits of urban forests and irrigated open spaces.
A stochastic whole-of-life benefit-cost analysis was applied to account for uncertainties in data inputs and model estimates. This allowed the estimation of the net benefits of improved living assets management relative to business as usual conditions from 2018 to 2070.