The improvement of a forest resource valuation system - a case study of Beijing, China

Forest resources play a pivotal role in addressing the pressing challenges of climate change miti- gation and biodiversity conservation. The accurate valuation of forest resource assets is a founda- tional element in the scientifically sound pricing of natural resources. Moreover, it serves as a critical step in realizing the true value of forest ecological products, offering insights into the impact of human activities on these invaluable resources. As a key aspect of the environment, forest is closely related to ecological security and sustainable development, which underscores the importance of forests in providing essential ecosystem services. To accurately assess the value of forest resource assets, herein we present a forest resource asset value accounting system using Beijing, China, as a case study. First, limitations of current forest resource asset accounting prac- tices used in China and abroad and directions for improvement are discussed. The significance of a well-rounded approach becomes evident, one that encompasses various perspectives and dimensions of forest resources, thus ensuring a more holistic valuation. Next, considering the unique characteristics of Beijing's forest resources, including abundant protected forests, forests for special purposes, plantation forests, juvenile/middle-aged forests, and many old and valuable trees, we establish an index system for forest resource asset value accounting in Beijing. We include economic and ecological value in our index system by using the systematic analysis method, liter- ature research method, and comparative research method. This index system covers 13 asset accounting indicators and 33 specific accounting indicators. Finally, we delve into the distinctive features and practical applications of the Beijing forest resource valuation system. This research holds the potential to offer more than just theoretical insights into the utilization of forest resources and the valuation of forest resource assets in Beijing. It can also act as a benchmark for evaluating forest resources in cities across China and various nations with comparable ecosystems.