Nature-based solutions can transform local economies

When we look around, it’s not difficult to see the myriad ways nature contributes to our existence. The value of nature, though, goes far beyond what meets the eye – offering solutions with benefits that are often overlooked.

That’s the extraordinary revelation from a group of researchers at the University of Oxford. The experts examined the economic ramifications of nature-based solutions (NbS) and what they discovered is like finding a pot of gold at the end of a rainbow.

Nature-based solutions

The researchers found that adopting nature-based solutions could help local economies flourish by boosting agricultural yields and creating job opportunities. It’s a secret formula: the more we work with nature, the more prosperity we unlock.

But there’s an added bonus. Nature-based solutions don’t just lead to a surge in wealth and jobs. They can also pave the way for “win-win” situations, such as increased income and job creation, while simultaneously promoting biodiversity and supporting climate adaptation.

Revving up local economies

The study cites several compelling instances of how NbS has been a game-changer. One example is the Working for Water (WfW) program in South Africa.

This initiative successfully rid over 1 million hectares of land of invasive species while providing employment for more than 20,000 people.

Similarly, a coastal restoration project in the United States ended up creating 17 jobs for every million dollars spent.

“The evidence also shows NbS can be deployed with speed and flexibility in areas where they are needed the most, like rural communities that are often neglected by other investment approaches,” noted Alex Chausson, lead author of the study.

Chausson, a specialist in nature-based solutions at WWF-UK and a research associate at Oxford’s Nature-Based Solutions Initiative (NbSI), further emphasized the significance of these solutions in revving up local economies and aiding recovery in the aftermath of crises.

More than meets the eye

“Nature’s value is often overlooked in accounting frameworks, yet our study highlights its tremendous economic benefits,” said Nathalie Seddon, a professor of biodiversity at the University of Oxford

“At a time when global systems are under strain and the planet is warming, nature-based solutions offer a vital opportunity to boost the resilience of ecosystems – and the economies that depend on them. However, our study sheds light on its tremendous economic benefits.”

Despite these advantages, the researchers identified several obstacles standing in the way of NbS implementation.

These obstacles include siloed governmental decision-making, widespread misconceptions that pro-environmental policies can harm business, and scant reporting on the broader impacts of NbS projects.

Nature as a solution for broader impact

“Right now, when a government makes an investment in nature, all too often they are failing to look at the wider impact that investment is having,” explained Chausson.

“The immediate impact of restored woodland on biodiversity might be monitored, for example, but the broader benefits of the project on jobs or the resilience of the local community to climate change will not be. If these aspects are considered, it will lead to better policy decisions.”

The way forward

Dr. Brian O’Callaghan, co-author of the study and project manager at the University of Oxford, agrees that well thought out investments in nature can create jobs, spur high economic productivity, and enhance resilience, offering a robust response to economic shocks.

However, he recommends caution to ensure key stakeholders are not left behind and to avoid any unforeseen negative externalities.

Nature based solutions are essential

The crucial factor, according to study co-author Alison Smith, is following best practice standards for NbS to ensure benefits are delivered in practice.

“We found that community involvement in NbS design and delivery was a key factor for making sure that benefits are distributed fairly, and helping to avoid trade-offs,” said Smith.

“Integrating traditional, local and scientific knowledge can also really help to improve the outcomes of NbS for both nature and people.”

The conclusion? Nature-based solutions are not just beneficial; they are essential. And the road to prosperity may well be paved with natural wonders. .

The study is published in the journal PLOS Climate.

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