It looks like money really does grow on trees, Boris Johnson pledges to plant 40,000 new trees as a new survey shows trees are worth £6.1bn to London’s economy
Trees contribute £6.1bn to London's economy, which is probably why Boris Johnson has launched a scheme to plant 40,000 more trees in the capital.
The 'For the Love of Trees' initiative, launched today and will see 20,000 trees planted on school land around the capital, while a further 20,000 will be used to create an "edible urban woodland" in Ealing.
It will increase London's tree cover by five per cent, to 25 per cent canopy cover, in an attempt to make the city more resilient to the effects of climate change.
London’s eight million trees contribute more £130m in wider benefits a year, a new survey by produced by the Mayor of London, The Forestry Commission and Unilever, has calculated.
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The i-Tree survey analyses the wider cost benefits from the 'services' trees provide, including city maintenance and savings in healthcare provision.
London's trees save the capital around £2.8m annually in storm water alleviation- where water is held in the canopy and evaporates rather than pooling on the ground, causing flood damage.
Trees capture around 2.4 million tonnes of carbon a year, which is worth £146.9m, and remove pollutants, including carbon monoxide, form the air, saving around £126.1m in social damage costs.
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The Mayor of London, Boris Johnson said: “London is one of the greenest, leafiest cities on the planet and as this survey proves, our canopy does a ‘tree mendous’ job of lowering pollution, alleviating flood water and boosting our environment.”
The launch comes ahead of the UN's climate change conference COP21, which is due to be held in Paris next week.