1. Economic Assessment of Nature-Based Solutions for Water-Related Risks
- Author
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Le Coent, Philippe, Hérivaux, Cécile, Calatrava, Javier, Marchal, Roxane, Moncoulon, David, Benitez-Avila, Camilo, Altamirano, Mónica, Gnonlonfin, Amandine, Douai, Ali, Piton, Guillaume, Dartée, Kieran, Biffin, Thomas, Arfaoui, Nabila, Graveline, Nina, Gestion de l'Eau, Acteurs, Usages (UMR G-EAU), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Bureau de Recherches Géologiques et Minières (BRGM) (BRGM)-Institut de Recherche pour le Développement (IRD)-AgroParisTech-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE)-Institut Agro Montpellier, Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro)-Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement (Institut Agro), Bureau de Recherches Géologiques et Minières (BRGM) (BRGM), Universidad Politécnica de Cartagena / Technical University of Cartagena (UPCT), Caisse Centrale de Réassurance, parent, Deltares [The Netherlands], Delft University of Technology (TU Delft), Université Côte d'Azur (UCA), Groupe de Recherche en Droit, Economie et Gestion (GREDEG), Université Nice Sophia Antipolis (1965 - 2019) (UNS), COMUE Université Côte d'Azur (2015-2019) (COMUE UCA)-COMUE Université Côte d'Azur (2015-2019) (COMUE UCA)-Centre National de la Recherche Scientifique (CNRS)-Université Côte d'Azur (UCA), Université Grenoble Alpes (UGA), Institut des Géosciences de l’Environnement (IGE), Institut de Recherche pour le Développement (IRD)-Institut national des sciences de l'Univers (INSU - CNRS)-Centre National de la Recherche Scientifique (CNRS)-Université Grenoble Alpes (UGA)-Institut polytechnique de Grenoble - Grenoble Institute of Technology (Grenoble INP ), Fields Factors, Université Catholique de Lyon (UCLy) (UCLy), Innovation et Développement dans l'Agriculture et l'Alimentation (UMR Innovation), Centre de Coopération Internationale en Recherche Agronomique pour le Développement (Cirad)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE)-Institut Agro Montpellier, López-Gunn, Elena, Van der Keur, Peter, Van Cauwenbergh, Nora, Le Coent, Philippe, and Giordano, Raffaele
- Subjects
Economic assessment ,Ecosystem service ,Nature Based Solution ,Flood risk ,[SDV.SA.AEP]Life Sciences [q-bio]/Agricultural sciences/Agriculture, economy and politics ,[SHS.ECO]Humanities and Social Sciences/Economics and Finance - Abstract
Evidence are dearly needed to understand under which conditions it is relevant for decisions makers to invest in NBS for water-related risk. This chapter presents the methodological framework developed for the economic assessment of NBS for water-related risks and its application to seven case studies. We particularly develop methods for the evaluation of implementation and opportunity costs, the assessment of the reduction of damage costs, and the monetary value of co-benefits. The study confirms that the cost of implementation and maintenance of NBS strategies is lower than the cost of grey solutions for the same level of water risk management, emphasizing the better cost-effectiveness of these solutions. Benefits in terms of avoided damages are however generally not sufficient to cover investment and maintenance costs. Co-benefits represent the largest share of the value generated by NBS strategies. The overall cost-benefit analysis implemented in four cases, is positive in three case studies and negative in one. This confirms the importance to carry out thorough economic assessments for the elaboration of Natural Assurance Schemes.
- Published
- 2023