Natural Assurance Schemes Canvas: A Framework to Develop Business Models for Nature-Based Solutions Aimed at Disaster Risk Reduction

Abstract

Nature-based solutions (NBS) are increasingly being promoted because they can solve different pursued aims together with providing an additional array of multiple ecosystem services or co-benefits. Nevertheless, their implementation is still being curbed by several barriers, for example, a lack of examples, a lack of finance, and a lack of business cases. Therefore, there is an urgent need to facilitate the construction of business models and business cases that identify the elements required to capture value. These are necessary to catalyze investments for the implementation of NBS. This article presents a tool called a Natural Assurance Schemes (NAS) canvas and explains how it can be applied to identify business models for NBS strategies providing climate adaptation services, showing an eye-shot summary of critical information to attract funding. The framework is applied in three case studies covering different contexts, scales, and climate-related risks (floods and droughts). Finally, a reflective analysis is done, comparing the tool with other similar approaches while highlighting the differential characteristics that define the usefulness, replicability, and flexibility of the tool for the target users, namely policymakers, developers, scientists, or entrepreneurs aiming to promote and implement NAS and NBS projects.