Valuation of nature-based solutions: Methods, challenges and critical considerations

This paper explores the valuation of Nature-based Solutions (NbS) and the critical considerations involved in their economic assessment. NbS leverage ecosystems to achieve goals such as biodiversity protection, with applications ranging from urban green spaces to large-scale forest conservation. This paper discusses the social and economic value of ecosystem services provided by NbS. Economic methods for valuing biodiversity, including Revealed Preference, Stated Preference, and Production Function methods, are examined, highlighting their critical aspects and the importance of integrating non-market values into policy decisions.