Co-Developing Business Plans for Upscaled Coastal Nature-Based Solutions Restoration: An Application to the Venice Lagoon (Italy)

Upscaling coastal nature-based solutions (NbSs), from the river to sea scale, essential to the ultimate success of restoration, requires larger investments, greater socio-economic engagement and a transformative shift in governance. Consequently, the ability to catalyze blended finance from public a...

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Bibliographic Details
Published in:Sustainability 2024-10, Vol.16 (20), p.8835
Main Authors: Pernice, Umberto, Coccon, Francesca, Horneman, Fabienne, Dabala, Caterina, Torresan, Silvia, Puertolas, Laura
Format: Article
Language:English
Subjects:
Bibliometrics
Biodiversity
Business models
Business planning
Business plans
Case studies
Circular economy
Citation indexes
Climate change
Coastal zone management
Ecological restoration
Economic aspects
Ecosystems
Environmental aspects
Environmental economics
Funding
Grey literature
Innovations
Institutional investments
Investors
Scientometrics
Stakeholders
Sustainability
Value creation
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Summary:Upscaling coastal nature-based solutions (NbSs), from the river to sea scale, essential to the ultimate success of restoration, requires larger investments, greater socio-economic engagement and a transformative shift in governance. Consequently, the ability to catalyze blended finance from public and private investors through business model innovation and accessibly written long-range business plans is imperative. This research proposes a methodology to systematically co-design, through iterative stakeholder engagement, suitable and effective business models for upscaling NbSs coastal restoration, as well as a framework to develop business plans adaptable to different investors needs and financial criteria. This method was tested and validated in a saltmarsh restoration project coordinated by public agencies in the Venice Lagoon. It delivered an advanced business model canvas, carefully assessed through a stakeholder questionnaire and a related business case centered on ecotourism complemented by a willingness-to-pay analysis. The resulting business plan lays out the governance, management, business and financial strategies for successful restoration, addressing specific interconnected issues, improving five main ecosystem services and delivering NbS multifunctional environmental, economic, social and cultural benefits. The methodology has proven to be applicable beyond the Venice Lagoon saltmarsh case and types of restoration projects.
ISSN:2071-1050
2071-1050
DOI:10.3390/su16208835