Monetization of Ecosystem Services from Nature-Based Solutions for Agricultural Diffuse Pollution Control: Simplified Value Transfer Method at European Scale

Abstract

When nature-based solutions (NBS) are developed with a primary scope, they also provide simultaneous additional economic, social, and environmental benefits, i.e., Ecosystem Services. A monetary assessment that accounts for these additional benefits is provided by this work, with a focus on Europe. Specifically, this is intended to evaluate nine identified benefits of those wetlands and buffer strips designed to primarily address agricultural diffuse pollution, which must surely be listed among the negative externalities of economic activities that NBS can help resolve. The aim of developing a simplified value transfer methodology for a rapid evaluation of NBS benefits with the adjusted unit Value Transfer method is to create an accessible solution when time, funding, or other constraints prevent the use of highly technical primary monetization approaches. The developed exercise allows us to gather insights from several primary valuation studies and to appropriately transfer the monetary valuation outcomes to new policy sites. In order to reduce the distance from the expected and required concrete achievements of the economic valuations, the study has been integrated with an case study located in the Venice lagoon catchment in Northwestern Italy. The results obtained are to be considered sound, with existing evidence showing that the most valuable benefits of the considered NBS are both water quality and recreation and tourism, to which is added, in the case of wetlands, water supply.