- Scaling up nature-based solutions (NBS) is a cost-effective and sustainable approach to climate adaptation
- NBS drive economic prosperity and enhance societal well-being while addressing environmental concerns
- The RESIST Project shows stories of positive economic and societal impact of NBS in its upcoming media briefing
Europe stands at a critical juncture where it has the opportunity to harness its natural resources and strategic initiatives to mitigate climate change and bolster economic prosperity. Nature-based solutions (NBS) represent a transformative approach to addressing environmental challenges while promoting economic development, thereby paving the way for a nature-positive economy.
NBS are innovative strategies that utilise nature’s resources to foster climate adaptation and enhance economic resilience. By harnessing the power of ecosystems, NBS offer a sustainable pathway to mitigate the impacts of climate change. Intrinsically linked to NBS is the concept of a nature-positive economy, in which economic activities are conducted in harmony with nature, ensuring the preservation and enhancement of natural capital. This holistic approach prioritises environmental sustainability alongside economic development and aims to achieve long-term resilience and prosperity for communities worldwide.
Integral to the development of a nature-positive economy are nature-based enterprises (NBE), which “use nature as a core element of their product/service offering,” as explained by Siobhán McQuaid and other researchers from the Connecting Nature Project. “Nature may be used directly by growing, harnessing, harvesting or sustainably restoring natural resources and/or indirectly by contributing to the planning, delivery or stewardship of sustainable nature-based solutions,” they continue. These enterprises play a crucial role in driving innovation and economic diversification while promoting ecological integrity and social well-being.
Briefing for journalists on NBS for a positive economy
The RESIST Project is committed to mainstreaming NBS as an adaptation solution to climate change across European regions. To achieve that goal, societal engagement – including citizens and businesses – is key and journalists are a cornerstone to facilitate that. That’s why RESIST is focusing on the economic aspect of NBS in the project’s upcoming media briefing, putting journalists at the heart of this session and giving them access to sources, case studies, and data from key experts on the topic of NBS in Europe. The briefing will explore the positive economic and societal impact offered by NBS as well as stories about NBEs and stakeholder engagement.
Julie Delcroix, Climate Neutral Cities advisor at ERRIN, and Siobhán McQuaid, co-founder and director at Horizon Nua and lead on the nature-positive economy at Trinity Business School, will be unchaining the jargon around NBS and the business and market opportunities for these solutions in the online media briefing on 29 May 2024. Carmen Antuña, Senior Scientist at VTT and the Regions4Climate Project Coordinator, will also dig into the details of the cost-benefit and positive economic impact of NBS. There will be also time to showcase some case studies, with examples of stakeholder engagement around NBS and NBEs in rural areas of Southwest Finland and in Extremadura, Spain. The media briefing takes place in the lead-up to the GAIA Artic Summit – supported by RESIST – that will be held in the North of Norway the following week.
Despite the growing recognition of the importance of NBS, a significant barrier remains: “the entrenchment of current economic and financial thinking and systems,” as highlighted in the report The Vital Role of Nature-Based Solutions in a Nature Positive Economy, co-authored by Siobhán McQuaid and supervised by Julie Delcroix. As the report underlines, we need a paradigm shift in economic thinking and to develop practices grounded on a clear understanding of the value of nature to transition to a nature-positive economy with NBS at the core.