Co-Developing Business Plans for Upscaled Coastal Nature-Based Solutions Restoration: An Application to the Venice Lagoon (Italy)

Upscaling coastal nature-based solutions (NbSs), from the river to sea scale, essential to the ultimate success of restoration, requires larger investments, greater socio-economic engagement and a transformative shift in governance. Consequently, the ability to catalyze blended finance from public and private investors through business model innovation and accessibly written long-range business plans is imperative. This research proposes a methodology to systematically co-design, through iterative stakeholder engagement, suitable and effective business models for upscaling NbSs coastal restoration, as well as a framework to develop business plans adaptable to different investors needs and financial criteria. This method was tested and validated in a saltmarsh restoration project coordinated by public agencies in the Venice Lagoon. It delivered an advanced business model canvas, carefully assessed through a stakeholder questionnaire and a related business case centered on ecotourism complemented by a willingness-to-pay analysis. The resulting business plan lays out the governance, management, business and financial strategies for successful restoration, addressing specific interconnected issues, improving five main ecosystem services and delivering NbS multifunctional environmental, economic, social and cultural benefits. The methodology has proven to be applicable beyond the Venice Lagoon saltmarsh case and types of restoration projects.