WP4. Contributing to the Green Economy
WP4 will identify and evaluate monetary and non-monetary methods for assessing the benefits of ecosystem services provided by urban green spaces and biodiversity. The WP will also evaluate different ways of integrating ecosystem services provided by urban green spaces into real economies, for example within the urban learning labs. WP4 aims at operationalizing the concept of Green Economy for urban green infrastructure planning and governance at the level of overall urban green infrastructure and management of green space components. Particular focus will be given to analysing potentials of innovative approaches to unlock cash flows from urban green spaces, integrating different approaches (including monetary and non-monetary methods) to value ecosystem services. Existing methods that have so far mostly been used for research purposes will be translated into practical tools to be used in the day-to-day practice of managing urban green spaces and associated ecosystem services.
The objectives are to:
1) Develop innovative methods for data collection to perform hedonic valuation of green spaces
2) Understand mechanisms for unlocking cash flows from green spaces
3) Attempt to integrate monetary and non-monetary valuation of ecosystem services provided by urban green spaces.
Tasks under this WP are:
4.1) Develop a web-based tool for hedonic pricing
4.2) Unlocking cash flows in urban green space
4.3) Integration of monetary and non-monetary valuation (in cooperation with WPs 2 and 3)
4.4) Learning module on the economics of urban green space.