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State of the Art and Latest Advances in Exploring Business Models for Nature-Based Solutions

Author

Listed:
  • Beatriz Mayor

    (European Projects Department, I-CATALIST S.L., 28232 Las Rozas, Madrid, Spain)

  • Helen Toxopeus

    (Sustainable Finance Lab, Utrecht University, 3584 EC Utrecht, The Netherlands)

  • Siobhan McQuaid

    (Centre for Social Innovation, Trinity College Dublin, Dublin, Ireland)

  • Edoardo Croci

    (GREEN Research Center, Bocconi University, 20136 Milan, Italy)

  • Benedetta Lucchitta

    (GREEN Research Center, Bocconi University, 20136 Milan, Italy)

  • Suhana E. Reddy

    (IRI THESys, Humboldt Universität zu Berlin, 10117 Berlin, Germany)

  • Aitziber Egusquiza

    (Sustainable Construction Division, TECNALIA, Parque Científico y Tecnológico de Gipuzkoa, 20009 San Sebastián, Gipuzkoa, Spain)

  • Monica A. Altamirano

    (Policy Analysis Unit, DELTARES, 2629 HV Delft, The Netherlands)

  • Tamara Trumbic

    (Science Tower, Joanneum Research, 8020 Graz, Austria)

  • Andreas Tuerk

    (Science Tower, Joanneum Research, 8020 Graz, Austria)

  • Gemma García

    (Sustainable Construction Division, TECNALIA, Parque Científico y Tecnológico de Gipuzkoa, 20009 San Sebastián, Gipuzkoa, Spain)

  • Efrén Feliu

    (Sustainable Construction Division, TECNALIA, Parque Científico y Tecnológico de Gipuzkoa, 20009 San Sebastián, Gipuzkoa, Spain)

  • Cosima Malandrino

    (Circular Economy and Climate Adaptation, LGI Sustainable Innovation, 75011 Paris, France)

  • Joanne Schante

    (Circular Economy and Climate Adaptation, LGI Sustainable Innovation, 75011 Paris, France)

  • Anne Jensen

    (iCLIMATE Aarhus University Interdisciplinary Centre for Climate Change, Aarhus University, 4000 Roskilde, Denmark)

  • Elena López Gunn

    (European Projects Department, I-CATALIST S.L., 28232 Las Rozas, Madrid, Spain)

Abstract

Nature-based solutions (NBS) offer multiple solutions to urban challenges simultaneously, but realising funding for NBS remains a challenge. When the concept of NBS for societal challenges was first defined by the EC in 2017, financing was recognised as one of the major challenges to its mainstreaming. The complexity of NBS finance has its origin in the multiple benefits/stakeholders involved, which obscures the argument for both public and private sector investment. Since 2017, subsequent waves of EU research- and innovation-funded projects have substantially contributed to the knowledge base of funding and business models for NBS, particularly in the urban context. Collaborating and sharing knowledge through an EU Task Force, this first set of EU projects laid important knowledge foundations, reviewing existing literature, and compiling empirical evidence of different financing approaches and the business models that underpinned them. The second set of EU innovation actions advanced this knowledge base, developing and testing new implementation models, business model tools, and approaches. This paper presents the findings of these projects from a business model perspective to improve our understanding of the value propositions of NBS to support their mainstreaming.

Suggested Citation

  • Beatriz Mayor & Helen Toxopeus & Siobhan McQuaid & Edoardo Croci & Benedetta Lucchitta & Suhana E. Reddy & Aitziber Egusquiza & Monica A. Altamirano & Tamara Trumbic & Andreas Tuerk & Gemma García & E, 2021. "State of the Art and Latest Advances in Exploring Business Models for Nature-Based Solutions," Sustainability, MDPI, vol. 13(13), pages 1-21, July.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:13:p:7413-:d:587263
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    References listed on IDEAS

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    1. Simon Stork & Bernd Pölling & Wolf Lorleberg & Rolf Morgenstern & Jan-Henning Feil, 2023. "Clustering Business Models of Heterogeneous Nature-Based Solutions Implementing Innovative Governance and Financing Concepts," Land, MDPI, vol. 12(12), pages 1-22, November.
    2. Ellen Banzhaf & Sally Anderson & Gwendoline Grandin & Richard Hardiman & Anne Jensen & Laurence Jones & Julius Knopp & Gregor Levin & Duncan Russel & Wanben Wu & Jun Yang & Marianne Zandersen, 2022. "Urban-Rural Dependencies and Opportunities to Design Nature-Based Solutions for Resilience in Europe and China," Land, MDPI, vol. 11(4), pages 1-25, March.
    3. Basma Hamrouni & Abdelhabib Bourouis & Ahmed Korichi & Mohsen Brahmi, 2021. "Explainable Ontology-Based Intelligent Decision Support System for Business Model Design and Sustainability," Sustainability, MDPI, vol. 13(17), pages 1-28, September.
    4. Aitziber Egusquiza & Maider Arana-Bollar & Amaia Sopelana & Javier Babí Almenar, 2021. "Conceptual and Operational Integration of Governance, Financing, and Business Models for Urban Nature-Based Solutions," Sustainability, MDPI, vol. 13(21), pages 1-28, October.
    5. Siobhan McQuaid & Esmee D. Kooijman & Mary-Lee Rhodes & Sheila M. Cannon, 2021. "Innovating with Nature: Factors Influencing the Success of Nature-Based Enterprises," Sustainability, MDPI, vol. 13(22), pages 1-25, November.
    6. Ian Mell & Sarah Clement & Fearghus O’Sullivan, 2023. "Mainstreaming Nature-Based Solutions in City Planning: Examining Scale, Focus, and Visibility as Drivers of Intervention Success in Liverpool, UK," Land, MDPI, vol. 12(7), pages 1-23, July.
    7. Simon Stork & Rolf Morgenstern & Bernd Pölling & Jan-Henning Feil, 2023. "Holistic Business Model Conceptualisation—Capturing Sustainability Contributions Illustrated by Nature-Based Solutions," Sustainability, MDPI, vol. 15(19), pages 1-20, September.
    8. Karmele Herranz-Pascual & Igone Garcia-Pérez & Saioa Zorita & Carolina García-Madruga & Carolina Cantergiani & Julita Skodra & Ioseba Iraurgi, 2023. "A Proposal of a Tool to Assess Psychosocial Benefits of Nature-Based Interventions for Sustainable Built Environment," Sustainability, MDPI, vol. 15(10), pages 1-14, May.

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