Abstract
Green roofs, which have various economic, environmental and social effects, have been acknowledged as an alternative green space in urban areas. This study aims to investigate the economic feasibility of green roof projects by conducting a benefit–cost analysis on the case of Jung-gu, Seoul. The analysis estimates and compares five different scenarios applied in the study area with a 20-year operation period in all cases. This set of scenarios aims to compare the most idealistic situation with more achievable and realistic situations, to provide policy implications for green roof initiative projects in Seoul. The analysis consists of estimating six cost items and eight benefit items. Among the benefit items, two non-marketable elements are estimated by the contingent valuation method. The scenario with 100% application of a green roof, has benefits exceeding the costs with a benefit–cost ratio of 1.174. However, the other scenarios with certain prerequisites have a benefit–cost ratio that is very close, but still smaller than 1. Therefore, it is possible to claim that green roof initiative projects are economically viable under specific conditions. However, there are many restrictions to engaging in green roof constructions for entire building rooftops.
Highlights
Conserving and allocating an adequate amount of land to supply green spaces has been difficult
The purpose of this study is to estimate the costs and benefits related to green roof initiative projects in Jung-gu in order to estimate the economic feasibility of these projects in Seoul, South Korea
Not completely feasible, could be a new alternative source of green spaces, transforming grey rooftops to green rooftops
Summary
Conserving and allocating an adequate amount of land to supply green spaces has been difficult. Green roofs have been recognised as an alternative method for providing green spaces in urban areas. Green roofs for buildings have been preferred as an alternative method for providing ecosystem services. Intensive green roofs are commonly referred to as rooftop gardens, consisting of large trees, and a variety of plant species, along with garden furniture. They often appear more similar to parks and gardens on the ground level. The building needs to be able to hold the extra weight, as this requires foundation work, soil layers with a depth greater than 15 cm, and the planting of large species. Extensive green roofs have thinner layers of soil and smaller plant species. As intensive green roofs have more limitations, extensive green roofs have been preferred
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