The work continues in extending the Total Economic Value (TEV) to include risk factors and the generation of insurance values. Methodologies such as the Value-at-Risk aapproach seem promising, having the potential to create a common methodological basis with the investment sectorand thus unlock investment for NbS. However, such tools are lacking for the valuation of nature and ecosystem services. Overall, different methods are suitable for different cases of data availability. The approaches developed will be described in the upcoming Deliverable 2.2 and are to be applied in Work Package 3 to provide new evidence on the benefit of NbS.
Building upon the results publised in Deliverable 2.1, novel approaches to assessing the cost and benefits were being tested and validated in the Living Labs against real life scenarios. More methods integrating into the Total Economis Valuation (TEV) framework were identified with the Living Labs. The TEV framework is being further extended to include uncertainties related to climate risks and impacts on disaster risk reduction.
An extensive literature review was conducted on the benefit and cost categories, as well as valuation methods for NbS. With the Living Labs, the benefit and costs in the respective landscapes were mapped against societal challenges and their potential assessment methods. The results were published in Deliverable 2.1, available here.
The team created a methods to measure the benefits and costs for NbS for different landscapes. Existing methods were reviewed and key cost and benefit categories were identified. Working with the Invest4Nature Living Labs, they refined the methods to better evaluate NbS, considering economic value, climate change adaptation, and disaster risk reduction factors.
The stakeholder engagment activities are designed to engage stakeholders in
the ecosystem of the Living Labs on key topics, gather feedback, and drive discussions that highlight the multi-benefits of NBS,
the essential elements of successful governance models, and innovative financing strategies.
The workshop formats provide
Living Labs with opportunities to address the pressing needs
of their projects.
A key component of the programme is the consultation on the DS Toolbox. Sakeholders will have the opportunity to test the toolbox
and provide feedback, ensuring it meets user needs and delivers practical solutions.
The stakeholder engagement programme is being developed, involving both in-person and online events, hosted by each Living Lab with the support of partners Oppla, Horizon Nua, and Climate Alliance. Three event types are planned:
The planning of the NbS co-development programme is underway, comprising a series of workshops and events. A timeline of project activities was established, around which the workshop programme will be planned. The Online Interactive Workspace, meant to facilitate interactions with stakeholders, share news on tasks, and key milstones, is ready for content input.
The objective of the work package is to co-create
project outputs with stakeholders to ensure the created tools and resources meet their needs and generate impact. Initial work include conducting stakeholder mapping and making preparations for the interactive workspace and evidence database with WP3.
As a culmination of the work thus far, the report on stock taking of NbS markets, financing, and incentives has been published as Deliverable 3.3. It gathers the results of the systemativ literature review on the current landscape of how NbS projects are financed, examining trends and offering recommendations for funding strategies to scale up NbS. The report also sheds light on the perspectives of both the public sector and private sector, to identify opportunities for private sector involvement with a multi level approach.
The systematic literature review on sustainable and blended financing for NbS identified 165 different financing models including public funding, subsidies, green bonds and payment for ecosystem services. Surveys and in-depth interviews with NBEs, investors and the public sector are being finalized to identify enablers and barriers for NbS investment. The work on gathering evidence on bS economic and social performance continues, and will be part of the forthcoming I4N evidence database.
The second goal of the work package is to synthesize insights on financing mechanisms and markets for Nature-Based Enterprises (NBE). Recent efforts have focused on applying NBS typology, cost and benefit categories, and diagnostic frameworks in the Living Labs. Currently, evidence is being gathered on NbS social and economic performance through literature reviews and deep dive analyses. NBS markets, financing, and incentives is being assessed through reviews, interviews with NBEs, and surveys.
In its first goal of evaluating the existing evidence related to the financial and economic performance of NbS, the work is kicked off by setting up a typology and diagnostic framework defining various categories of benefits and costs related to diverse NbS actions. The framework, validated by the Living Labs, will later provide structure for the compilation of financial and economic evidence of NbS benefits. Information on the unique characteristics of each Living Lab are being gathered to describe NbS cases in detail.
Over the past few months, the development of the Decision
Support Toolbox has resulted in the release of an initial internal
version tailored for the project partners. Adopting an Agile
approach, the toolbox was then tested by the partners.
Feedback was gathered to assess its usability, utility, and overall satisfaction.
The insights gathered will be
incredibly useful in guiding the refinement of the sofware and setting it up for even greater value in the future.
Work not yet started
Work not yet started
Work not yet started
