The 1,500+ parks and public green spaces stewarded by the City of Toronto play a critical role in Torontonians’ quality of life by:
These benefits are known as ecosystem services.
The City of Toronto commissioned a report from the Toronto and Region Conservation Authority (TRCA) to quantify and estimate the economic value of key ecosystem services provided by City-owned or operated parks, golf courses, and open green spaces. These parks and green spaces contain over 7,000 hectares of natural assets, including forests, wetlands, meadows, water bodies, and manicured green spaces.
The 2023 “Valuation of Ecosystem Services in Toronto’s Parks, Golf Courses, and Open Green Spaces” TRCA report estimated that these parks and green spaces provide a total $7.7 billion of ecosystem service benefits annually. This is likely an underestimate, since not all ecosystem service benefits can be monetized. These results show that parks and green spaces generate enormous economic benefits to the City and its residents on an annual basis.
The report findings highlight the critical role of parks and green spaces for climate resilience. Within parks and green spaces, natural assets like trees, meadows, wetlands, and permeable grassy areas intercept and absorb stormwater, reducing the need for built infrastructure such as stormwater management ponds. These stormwater retention benefits are estimated at $6.7 billion per year, making up a large share of the total annual ecosystem service value. Parks and green spaces also have a cooling effect on nearby areas. These heat mitigation benefits are valued at $167 million per year.
| Ecosystem service | Indicator | Unit of measurement | Quantified service level | Estimated economic benefits (dollars in 2022) |
|---|---|---|---|---|
| Stormwater retention | Volume of stormwater retained through interception, infiltration, and evapotranspiration | m3/year | 55.4 million | $6.7 billion |
| Carbon storage | Carbon stored in soil, vegetation, and dead wood | tonne | 810,000 | $818 million |
| Carbon sequestration | Annual carbon uptake by vegetation | tonne/year | 11,000 | $11 million |
| Air quality regulation | Tonnes of pollutants and particulate matter removed from the air by trees and shrubs | tonne/year | 162 | $7.2 million |
| Food provision | Fresh produce yield from community and allotment gardens | tonne/year | 10 | $12,000 |
| Civic contribution | Volunteer work | hours worked | 11,000 | $279,000 |
| Civic contribution | Financial donations dedicated to parks and park programs | dollar/year | 112,000 | $112,000 |
| Heat mitigation | Avoided cases of premature mortality | number of lives saved | 15 | $133.5 million |
| Heat mitigation | Avoided cases of emergency department visits | number of avoided visits | 135 | $47,000 |
| Heat mitigation | Avoided cases of ambulance service calls | number of avoided calls | 83 | $20,000 |
| Heat mitigation | Energy savings | gigawatts | 1.4 | $158,000 |
| Heat mitigation | Increased worker productivity among those who are directly exposed to heat | number of days not classified as very hot | 6 | $33 million |
| Physical health | Number of weekly park visitors who engage in 150 minutes or more of moderate to vigorous physical activity per week above the baseline rate | number of people meeting the physical activity threshold | 30,000 | $10.8 million |
| Mental health | Number of weekly park visitors with reduced prevalence of mood disorders | number of people without mood disorders | 10,000 | $21.1 million |
| Water quality: Avoided phosphorus | Total avoided load of phosphorus | kg/year | 15,000 | Not monetized |
| Water quality: Avoided suspended solids | Total avoided load of suspended solids | kg/year | 2.6 million | Not monetized |
The findings of this study can be used to: