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

Umberto Pernice (), Francesca Coccon, Fabienne Horneman, Caterina Dabalà, Silvia Torresan and Laura Puertolas
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Umberto Pernice: Pernice Collaborative Innovation Management, Viale Michelangelo 2315, 90145 Palermo, Italy
Francesca Coccon: Consortium for Coordination of Research Activities Concerning the Venice Lagoon System (CORILA), San Polo 19, 30125 Venezia, Italy
Fabienne Horneman: CMCC Foundation-Euro-Mediterranean Center on Climate Change, 30175 Venice, Italy
Caterina Dabalà: Consortium for Coordination of Research Activities Concerning the Venice Lagoon System (CORILA), San Polo 19, 30125 Venezia, Italy
Silvia Torresan: CMCC Foundation-Euro-Mediterranean Center on Climate Change, 30175 Venice, Italy
Laura Puertolas: Albirem Sustainability, Olzinelles 70 B2, 08014 Barcelona, Spain

Sustainability, 2024, vol. 16, issue 20, 1-39

Abstract: 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.

Keywords: ecosystem services; nature-based solutions; coastal restoration upscaling; business plan; business model; stakeholder co-development; eco-tourism (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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