The potential of nature-based flood defences to leverage public investment in coastal adaptation: Cases from the Netherlands, Indonesia and Georgia

Kok, Sien; Bisaro, Alexander; Bel, Mark de; Hinkel, Jochen; Bouwer, Laurens M.

doi:10.1016/j.ecolecon.2020.106828

Cited by 17 publications

(8 citation statements)

References 18 publications

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“…This includes, for example, green bonds, environmental credits, and smart contracts [8,9,35]. Experimenting with these and other financial innovations is widely recognised in the literature as a useful approach to improve the investment attractiveness of NBS projects by aggregating projects, bridging long time horizons, distributing risks, and establishing innovative value capture and business models [6,10,17,28,36].…”

Section: Pathways For Overcoming Barriers To Funding and Financing Nbssmentioning

confidence: 99%

Key Innovations in Financing Nature-Based Solutions for Coastal Adaptation

Favero,

Hinkel

2024

Climate

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The implementation of nature-based solutions (NBSs) for coastal adaptation to climate change is limited by a well-documented lack of finance. Scholars agree that financial innovation represents a solution to this problem, particularly due to its potential for mobilising private investments. It remains unclear however how exactly innovative solutions address the specific barriers found in NBS implementation and, given the distinctive local characteristics of NBSs, to what extent successful innovations can be replicated in other locations. This study addresses this issue by reviewing the literature and case studies of innovative financial solutions currently implemented in NBS projects, highlighting which financial barriers these arrangements address and which contextual conditions affect their applicability. We find that there is no “low-hanging fruit” in upscaling finance in NBSs through financial innovation. Innovative solutions are nevertheless expected to become more accessible with the increase in NBS project sizes, the increased availability of data on NBS performance, and the establishment of supportive policy frameworks. The flow of finance into NBS projects can be further enhanced through the external support of both public (de-risking and regulation) and private actors (financial expertise).

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Section: Pathways For Overcoming Barriers To Funding and Financing Nbssmentioning

confidence: 99%

Key Innovations in Financing Nature-Based Solutions for Coastal Adaptation

Favero,

Hinkel

2024

Climate

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“…In a government‐funded system, the main impediment is to match fundings from various, sometimes opposing, stakeholders that should be included in an integrated project. For example, how to match stakeholder funds from coastal management, nature‐conservation, spatial quality and recreation (Kok et al 2021)? Although NBS do not have to be more expensive than conventional solutions, authorities can still be reluctant to fully fund a project that also serves other goals than their own.…”

Section: Looking Aheadmentioning

confidence: 99%

Nature‐based solutions for coastal adaptation management, concepts and scope, an overview

Meulen

IJff

Zetten

2022

Nordic Journal of Botany

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The paper introduces nature‐based solutions (NBS) and their application in coastal adaptation management. NBS seek to make use of local natural elements and processes in coastal ecosystems, as much as possible, to harness forces of nature for the benefit of society. We focus on soft sedimentary coasts, like beaches and dunes, salt marshes, seagrass beds and mangroves. By shifting coastal management from conventional ‘Building in Nature' to ‘Building with Nature', NBS can be seen as a valuable alternative to the traditional approach, which is based on hydraulic, civil engineered designs. NBS can be applied in diverse situations and at various scales, from small‐scale (ecosystem elements, a small pond) to large‐scale (entire coastal stretches). The practice of NBS is also valuable for climate change adaptation, when forces of nature will increase. NBS requires a governance setting that makes use of an integrated approach with disciplines of ecology, economy and society working together. But integration is not yet common practise in many countries. We conclude that NBS are a promising alternative to the traditional approach. Because the practise still is relatively young, more field and laboratory projects should be executed, in particular under extreme weather conditions. The future challenge is to build up more stakeholder acceptance and (local) trust in the concept.

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“…Coastal engineering companies, whose core business involves dredging and construction, want to identify coastal areas or regions for future business development regarding coastal engineering solutions. Currently, such companies are particularly interested in identifying areas attractive for nature-based solutions (NBS) due to the potential to attract additional investors (e.g., development banks or foundations) to such projects (Kok et al, 2021). Locations that are attractive and feasible for coastal NBS present significant opportunities for partnerships that can attract investment needed to make a project viable.…”

Section: Choice Of Physical Asset Location Such That Adaptation Benef...mentioning

confidence: 99%

Global Climate Services: A Typology of Global Decisions Influenced by Climate Risk

et al. 2021

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Climate services are ideally co-developed by scientists and stakeholders working together to identify decisions and user needs. Yet, while climate services have been developed at regional to local scales, relatively little attention has been paid to the global scale. Global climate services involve decisions that rely on climate information from many locations in different world regions, and are increasingly salient. Increasing interconnections in the global financial system and supply chains expose private companies and financial institutions to climate risk in multiple locations in different world regions. Further, multilateral decisions on greenhouse gas emission reduction targets, disaster risk finance or international migration should make use of global scale climate risk assessments. In order to advance global climate service development, we present a typology of decisions relying on global (i.e., non-local) climate risk information. We illustrate each decision type through examples of current practice from the coastal domain drawn from the literature and stakeholder interviews. We identify 8 types of decisions making use of global climate information. At a top-level, we distinguish between “multilateral climate policy decisions,” and “portfolio decisions involving multiple locations.” Multilateral climate policy decisions regard either “mitigation targets” or “multilateral adaptation” decisions. Portfolio decisions regard either “choice of location” or “choice of financial asset” decisions. Choice of location decisions can be further distinguished as to whether they involve “direct climate risks,” “supply chain risks” or “financial network risks.” Our survey of examples shows that global climate service development is more advanced for portfolio decisions taken by companies with experience in climate risk assessment, i.e., (re-)insurers, whereas many multilateral climate policy decisions are at an earlier stage of decision-making. Our typology thus provides an entry-point for global climate service development by pointing to promising research directions for supporting global (non-local) decisions that account for climate risks.

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The potential of nature-based flood defences to leverage public investment in coastal adaptation: Cases from the Netherlands, Indonesia and Georgia

Cited by 17 publications

References 18 publications

Key Innovations in Financing Nature-Based Solutions for Coastal Adaptation

Key Innovations in Financing Nature-Based Solutions for Coastal Adaptation

Nature‐based solutions for coastal adaptation management, concepts and scope, an overview

Global Climate Services: A Typology of Global Decisions Influenced by Climate Risk

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