TY - JOUR
T1 - Cool cities
T2 - The value of urban trees
AU - Han, Lu
AU - Heblich, Stephan H
AU - Timmins, Christopher
AU - Zylberberg, Yanos
PY - 2025/4/8
Y1 - 2025/4/8
N2 - As urban populations grow, more people face extreme heat, increasing demand for natural cooling. Urban trees offer various amenities, including cooling benefits, yet their economic value is hard to quantify. This paper estimates the implicit value of urban trees by exploiting the Emerald Ash Borer infestation caused by an invasive beetle that kills ash trees in Toronto as an exogenous shock. We find that a one percentage-point increase in a postcode’s tree cover raises property prices by 1.16% and reduces exposure to extreme heat, pollution, and energy consumption. These findings underscore trees as a cost-effective, practical strategy for mitigating urban warming.
AB - As urban populations grow, more people face extreme heat, increasing demand for natural cooling. Urban trees offer various amenities, including cooling benefits, yet their economic value is hard to quantify. This paper estimates the implicit value of urban trees by exploiting the Emerald Ash Borer infestation caused by an invasive beetle that kills ash trees in Toronto as an exogenous shock. We find that a one percentage-point increase in a postcode’s tree cover raises property prices by 1.16% and reduces exposure to extreme heat, pollution, and energy consumption. These findings underscore trees as a cost-effective, practical strategy for mitigating urban warming.
M3 - Article (Academic Journal)
SN - 2640-205X
JO - American Economic Review: Insights
JF - American Economic Review: Insights
ER -
