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Approaching the Valuation of Costs and Benefits of Nature-Based Solutions on Climate Adaptation Against Drought

Author(s): Carlos Benitez; Guido Schmidt; Thomas Dworak

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Abstract: In response to the widespread social concern about the increasingly intense, frequent, and spatially widespread risks of drought, recent years have brought forth multiple studies aimed at identifying, systematizing and characterizing measures and actions to cope with droughts: from conceptual models to strategic proposals, policy reviews, compilations of evidence and a variety of analytical tools. Something similar happens with the Nature Based Solutions [NBS]. Following the European ambition of innovating with nature to achieve more sustainable and resilient societies, they are presented as a promising answer to the environmental and social stress caused by global change: climate adaptation, gaining security in the supply of water services, protecting against floods, and halting the loss of biodiversity and valuable ecosystems. There is a broad consensus that NBS can be a cornerstone for channeling public and private investment in the hydrological cycle towards the transition to a climate-neutral and sustainable economy, but progress needs to be made in understanding and quantifying both the costs involved and the multiple benefits derived. The research is framed within a technical assistance contract with the European Commission and is part of a comprehensive work package to provide technical support to the newly established Expert Group on Water Scarcity and Droughts.

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Year: 2022

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