London and southeast England’s most iconic open spaces are worth billions to society
A recent study has unveiled that the City of London Corporation’s network of significant open spaces, including Epping Forest and Hampstead Heath, provides annual societal benefits worth £282.6 million, totaling £8.1 billion over five decades.
This organization oversees more than 11,000 acres of public parks, forests, heaths, gardens, and historic spaces in London and southeast England. It allocates £38 million annually for the upkeep of these areas. These sites, often run as charitable trusts, incur minimal to no cost to the communities they benefit.
These spaces encompass a range of vital wildlife habitats, Sites of Special Scientific Interest, Special Areas of Conservation, and National Nature Reserves, safeguarded by law.
Natural Capital Solutions authored the report, which estimates the public benefits of these open spaces, including recreation, health, air and water quality improvements, and carbon removal.
The report highlights a benefit-to-cost ratio of 16.4, indicating that every £1 spent on these spaces generates £16.40 in ‘natural capital benefits’.
Over 60% of the City Corporation’s areas include Epping Forest and Hampstead Heath, drawing about 18.1 million visitors annually. The report notes that Hampstead Heath offers recreation and health benefits valued at £48.3 million yearly, while Epping Forest’s carbon absorption is worth £4.5 million annually.
These two sites are among the most effective in delivering public benefits like carbon capture, air purification, and recreational and health advantages, combining an annual value of £115.6m.
The City Corporation’s locations, including Burnham Beeches and West Ham Park, feature 58,000 ancient trees and capture over 16,000 tonnes of carbon each year. These places attract over 47 million visitors yearly, far exceeding those attending Premier League matches or visiting the Grand Canyon, and provide educational programs for thousands of children.
In 2023, these spaces won five London in Bloom awards and 15 Green Flag awards, marking them among the world’s best-managed green areas.
These sites are integral to the City Corporation’s Climate Action Strategy, aiming for net-zero carbon emissions by 2027 in its operations and supporting net zero for the Square Mile by 2040.
City Corporation Policy Chairman, Chris Hayward, emphasized the significant, often unrecognized benefits of these green spaces to the community, highlighting their role in enhancing community health, combating climate change, and bolstering London’s global city status.
Caroline Haines, Chair of the City Corporation’s Natural Environment Board, pointed out the immense value these green spaces offer to millions of users, from locals to international tourists. The investment in maintaining these sites is substantial but worthwhile, reflecting the organization’s long-standing commitment to protecting green spaces since the 1870s.
The City Corporation has also introduced four new broad environmental strategies (Nature Conservation & Resilience, Community Engagement, Access & Recreation, and Culture, Heritage & Learning) to protect, enhance, and maintain its sites. These were launched at a special event at Guildhall with notable guests including Dame Eleanor Laing DBE, MP for Epping Forest, and former Saracens rugby captain Floyd Steadman OBE.
