Ecosystem services valuation of Paryavaran Park of Balod District in Chhattisgarh

Abstract

This study provides a detailed ecosystem valuation of Paryavaran Park in Balod, Chhattisgarh, India, assessing its economic and ecological significance. Based on the Travel Cost Method (TCM), the park’s annual economic value is estimated at Rs. 10,39,293 with 28,089 annual visitors demonstrating substantial public investment in its natural and recreational amenities. The park features diverse attractions, such as a butterfly garden and medicinal plants, which enhance its appeal. Ecologically, the study evaluates the park’s contribution to climate change mitigation through carbon sequestration. The park’s tree species collectively sequester 16,835.80 kg of carbon, translating to a monetary value of Rs. 1,25,763 based on the Social Cost of Carbon. The findings emphasize the importance of preserving and enhancing such green spaces, which play a critical role in urban sustainability. This study underscores the necessity of recognizing and monetizing the ecological services provided by urban parks, which are instrumental in combating climate change and enhancing the quality of life in urban areas. The data-driven approach reinforces the park’s multifaceted importance and supports strategies for sustainable management and conservation.