What is the economic value of old-growth forests if they are kept standing?

Cover photo by TJ Watt (2016)

Old growth forests provide many ecosystem services beyond timber supply. ESSA recently completed a first-of-its-kind project on Vancouver Island that used 17 modelled old growth protection scenarios to assess the economic value of these services over a 100-year time horizon. The study, led by Dr. Cedar Morton, looked at Provincial forests around Port Renfrew, BC and determined that while protecting old growth in the study area would result in some losses to the forest sector, the net economic benefits to society would compensate for these losses by about $40 million when non-timber ecosystem services like carbon sequestration and recreation/tourism are considered. You can view the media release, the full report, and the summary report on the Ancient Forest Alliance’s website here.