UGA Report: Georgia forests provide $37 billion in ecological benefits to state

 A University of Georgia researcher has found that Georgia’s forestlands provide essential ecosystem services to the state worth an estimated $37 billion annually. This is in addition to the value of timber, forest products and recreation. This is the first time these indirect benefits of Georgia’s private forests have been estimated.

Rebecca Moore, an assistant professor in the Warnell School of Forestry and Natural Resources, studied the 22 million acres of privately-owned forestland in Georgia to estimate the benefits of water filtration, carbon storage, wildlife habitat and aesthetics.

“People value these things,” Moore said, “but because they aren’t like other goods in that people don’t go out and buy them, it’s difficult to estimate just how much we value them. The purpose of our research was to do just that—estimate the value of the ecosystem services provided by private forests in Georgia.”

Moore’s study was conducted with funding from the Georgia Forestry Foundation. The findings of her study were announced at the state capitol on Feb. 9.

“We have had studies for some time that tell us what the economic benefit of wood and fiber manufacturing in the state is,” said Steve McWilliams, executive director of the Georgia Forestry Foundation. “This new study allows us to place a dollar value on those services we receive from the standing forests, and they are many.”

Moore’s final report, which can be found at http://www.warnell.uga.edu/news/wp-content/uploads/2011/02/Final-Report-1-24-11.pdf, focused on six types of ecosystem services forests provide: gas and climate regulation; water quantity and quality; soil formation and stability; pollination; wildlife habitats; and aesthetic, cultural and passive use.

Moore and her collaborators—graduate students Tiffany Williams andEduardo Rodriguez and Warnell Assistant Professor Jeffrey Hepinstall-Cymmerman—analyzed Georgia forestlands by identifying key forest characteristics that affect ecosystem services and estimating per-acre values for each different type of forest.These values were estimated from survey data the team collected and from the results of previous published studies. What Moore found upon concluding her three-year study is that Georgia’s private forests provide an estimated $37 billion annual benefit to Georgia residents. The values can vary widely—between $200 to $13,000 per acre—depending on the location and ecology of the land, Moore said.

“Understanding the value of these benefits of forestland is important,” Moore said, “because it allows us to make better land use decisions. The ecological services forestlands provide are incredibly beneficial to Georgia, and you receive these benefits whether or not you own forestland. Many people think of them as free. But if we lose forestland, we risk losing these benefits.”

McWilliams said he hopes the results of Moore’s study focusing specifically on Georgia will result in public policy decisions that help us conserve Georgia’s working forests. “It carries a lot of weight when we can talk about Georgia forests to Georgia legislators and Georgia opinion leaders,” McWilliams concluded.

The Georgia Forestry Association is a conservation organization based in Forsyth. It works with landowners to adopt sound land management practices so that their forests will help provide clean air and water, soil conservation, wildlife habitats, recreation and timber products.

For more information on the Georgia Forestry Association, see www.gfagrow.org.

For more information on the Warnell School of Forestry and Natural Resources, see http://www.forestry.uga.edu/.

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'Green' Investing Remains Priority Despite Economic Conditions, According to SunTrust Survey of Wealthy Business Owners

/PRNewswire-FirstCall/ -- Even while citing a down economy and concerns about the earth's ecosystem, business owners continue to be optimistic about giving to environmental causes, according to a survey released today by SunTrust Bank Private Wealth Management. The study surveyed more than 200 business owners with at least $10 million in annual revenue about their outlook on "green" giving and investing.

Sixty-nine percent of business owners claimed, "Even if there is an economic downturn that moderately affects my business, I plan to maintain my current level of giving to environmental causes in the coming year."

Balancing sentiments about the nation's economy and the health of the planet, most survey respondents believe it is a "good" or "average" time to invest in mutual funds or other financial instruments that are specifically marketed as "green" or environmentally responsible. In addition, forty percent of respondents believe it is a "good time" for all businesses to adhere to the highest possible environmental standards.

"The survey shows that business owners recognize that environmental stewardship can have genuine bottom-line results," says Dave Johnston, Senior Vice President, SunTrust Private Wealth Management. "Through our Business Owner Specialty Group, we see that business owners want to give back to the community while also supporting strategic, 'green' investing."

In addition, business owners feel confident about investing in environmental funds. Fifty-nine percent believe that a "green" investment would generate a rate of return similar to any other fund.

An Environment Ripe for Change

Certainly a motivating factor in "green" investing is business owners' belief that the earth's environment is slowly deteriorating (45 percent). When assessing the larger world around us, nearly half characterized the health of the earth's environment as "fair" (47%), with 30 percent citing it as "good," 18 percent as "poor" and five percent as "excellent."

"In the surveys we have conducted over the past year, we have found business owners give altruistically and abundantly," added Johnston. "This survey indicates that business owners consider it a priority to take action based on their personal concerns about changes in the world around them."

Pollution and energy policy topped the list of concerns that prompted business owners to invest in environmental funds and causes. Other influencers included a personal desire to make positive changes in the world, and past performance of a particular investment fund.

Personal and Professional Investment in the Cause

There were some caveats: Eighty-eight percent of business owners surveyed lend financial support only to environmental organizations they have researched thoroughly. And 72 percent give only to environmental organizations that are "well established."

And, as a whole, while attitudes and preferences toward green investing remain strong, most business owners had neither invested personal money nor business money in mutual funds or financial instruments marketed as "green" or environmentally responsible. Only 31 percent had invested personally this way. Only 28 percent had allocated business funds to these investments.

However, nearly half said their company had an official "green" policy that included recycling, energy saving plans and other measures. And, nearly half of the business owners donated personal money to organizations devoted to helping the environment, such as the Sierra Club, the Audubon Society, the Wilderness Society or some other such organization.

"Business owners believe in the integrity and prosperity that can come from green investing," said Johnston. "As they balance personal concerns and economic needs, they continue to see eco investing and 'green' workplace policies as viable and appealing."

Methodology

GfK Roper Public Affairs conducted an online survey for SunTrust Bank Private Wealth Management to better understand the key issues and concerns among high net worth business owners. In total, 202 business owners with $10 million or more in revenue were surveyed. All interviews were self-administered using GfK's proprietary web-based platform. Respondents were drawn from GfK's online panel. The random sample was conducted in November 2008.

The Bank's Commercial and Private Wealth Management lines of business have formed a strategic partnership, through the Business Owner Specialty Group, to address the unique business and personal financial complexities faced by this high net worth population.

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