Integrated valuation of the ecological, social and economic benefits provided by a multifunctional nature-based solution

Nature-based Solutions (NbS) offer multifunctional approaches to address climate change and environmental challenges, providing a sustainable alternative to traditional gray infrastructure. Despite their promise, widespread adoption remains limited, in part due to an incomplete understanding of their full costs and benefits relative to conventional infrastructure. Traditional benefit–cost analyses often overlook non-monetized benefits and the interconnected ecosystem services provided by NbS. This study introduces a methodological approach to quantify both the physical and monetary value of ecosystem services and co-benefits delivered by an NbS project. We applied an integrated valuation framework to a case study in Virginia Beach, VA, USA, where a city-owned golf course is being converted into a multifunctional stormwater park designed to enhance flood mitigation, support ecosystem restoration, and provide recreational opportunities. Four key ecosystem services were quantified: flood mitigation, microclimatic cooling, pollinator abundance, and environmental quality and amenities. The Hydrologic and Hydraulic (PC SWMM) model predicted a 50 % reduction in structural damages caused by flooding events, while the InVEST pollination model forecasted an increase in the pollinator abundance index from 0.085 to 0.132 due to native vegetation. ENVI-Met climate modeling revealed a 5.6 °C air temperature reduction in tree-covered areas around recreational paths. The hedonic pricing model estimated a 2.4 % increase in nearby property values. Incorporating these ecosystem services into a Benefit-Cost Ratio (BCR) analysis raised the BCR from 1.46 to a range of 1.6–2.1. These findings highlight the economic and environmental value of integrating NbS into urban planning, enhancing resilience and long-term sustainability for communities and ecosystems.