Epping Forest valued at £1.9 billion to society
A recent study has shown that Epping Forest, the largest green area in London and Essex, contributes approximately £64.4 million annually in public advantages, amounting to a total value of £1.9 billion over a span of 50 years. Managed by the City of London Corporation as a charity within its network of significant open spaces in London and the southeast, Epping Forest holds a European Site of Special Scientific Interest, a Special Area of Conservation status, and remains one of the south of England’s vast ancient woodlands.
Conducted by Natural Capital Solutions, the research assessed various public benefits provided by the forest, including recreational, health and wellness enhancements, improved air and water quality, and carbon absorption. Specifically, the forest’s health and recreational offerings are valued at £50.7 million per year, while its carbon sequestration efforts are estimated at £4.1 million annually. Moreover, the forest is identified as offering the best value for money among all City Corporation-managed open spaces, with a benefit-to-cost ratio of 20.2, indicating that every £1 invested returns £20.20 in societal benefits.
Encompassing about 8,000 acres, Epping Forest extends from Manor Park to Epping and is nine times the size of Central Park in New York, representing 73% of the 11,000 acres overseen by the City Corporation and attracting over 10 million visitors annually. It houses over one million trees, some over a millennium old, and supports diverse ecosystems, including rare and endangered species. The forest also features two historic parks, eight listed buildings, and four ancient monuments, offering various recreational activities and amenities.
The City Corporation’s broader network of open spaces is valued at £282.6 million per year, with a 50-year benefit of £8.1 billion. Ben Murphy, chair of the Epping Forest and Commons Committee, emphasized the importance of quantifying the economic value of London’s “green lungs” for future planning and attracting external support. The report highlights the environmental and societal importance of Epping Forest and underscores the need to protect it against climate change, pests, diseases, and planning pressures. The City Corporation invests £38 million annually in maintaining these spaces, which include vital wildlife habitats and attract over 47 million visitors yearly, significantly contributing to the city’s climate action goals.