Flooding is expected to increase due to climate change, urbanisation, and land use change. To address this issue, Nature-Based Solutions (NBSs) are often adopted as innovative and sustainable flood risk management methods. Besides the flood risk reduction benefits, NBSs offer co-benefits for the environment and society. However, these co-benefits are rarely considered in flood risk management due to the inherent complexities of incorporating them into economic assessments. This research addresses this gap by developing a comprehensive methodology that integrates the monetary analysis of co-benefits with flood risk reduction in economic assessments. In doing so, it aspires to provide a more holistic view of the impact of NBS in flood risk management. The assessment employs a framework based on life-cycle cost-benefit analysis, offering a systematic and transparent assessment of both costs and benefits over time supported by key indicators like net present value and benefit cost ratio. The methodology has been applied to the Tamnava basin in Serbia, where significant flooding occurred in 2014 and 2020. The methodology offers valuable insights for practitioners, researchers, and planners seeking to assess the co-benefits of NBS and integrate them into economic assessments. The results show that when considering flood risk reduction alone, all considered measures have higher costs than the benefits derived from avoiding flood damage. However, when incorporating co-benefits, several NBS have a net positive economic impact, including afforestation/reforestation and retention ponds with cost-benefit ratios of 3.5 and 5.6 respectively. This suggests that incorporating co-benefits into economic assessments can significantly increase the overall economic efficiency and viability of NBS.

Adverse effects of climate change are increasing around the world and the floods are posing significant challenges for water managers. With climate projections showing increased risks of storms and extreme precipitation, the use of traditional measures alone is no longer an option. Nature-Based Solutions (NBS) offer a suitable alternative to reduce the risk of flooding and provide multiple benefits. However, planning such interventions requires careful consideration of various factors and local contexts. The present paper provides contribution in this direction and it proposes a methodology for allocation of large-scale NBS using suitability mapping. The methodology was implemented within the toolboxes of ESRI ArcMap software in order to map suitability for four types of NBS interventions: floodplain restoration, detention basins, retention ponds, and river widening. The toolboxes developed were applied to the case study area in Serbia, i.e., the Tamnava River basin. Flood maps were used to determine the volume of floodwater that needs to be stored for reducing flood risk in the basin and subsequent downstream areas. The suitability maps produced indicate the potential of the new methodology and its application as a decision-support tool for selection and allocation of large-scale NBS.

Hydro-meteorological risks are a growing issue for societies, economies and environments around the world. An effective, sustainable response to such risks and their future uncertainty requires a paradigm shift in our research and practical efforts. In this respect, Nature-Based Solutions (NBSs) offer the potential to achieve a more effective and flexible response to hydro-meteorological risks while also enhancing human well-being and biodiversity. The present paper describes a new methodology that incorporates stakeholders’ preferences into a multi-criteria analysis framework, as part of a tool for selecting risk mitigation measures. The methodology has been applied to Tamnava river basin in Serbia and Nangang river basin in Taiwan within the EC-funded RECONECT project. The results highlight the importance of involving stakeholders in the early stages of projects in order to achieve successful implementation of NBSs. The methodology can assist decision-makers in formulating desirable benefits and co-benefits and can enable a systematic and transparent NBSs planning process.