Addressing the financial feasibility struggles of adaptation projects: appreciating the significance of secondary benefits

Many adaptation projects struggle with financial feasibility in the current financial system and
consequently face a decreased implementation probability. One means of addressing this
challenge is the accurate valuation of secondary benefits, for example (social) marketing
potential, employment and knowledge development. Based on personal experience with real
cases in The Netherlands, the authors of this paper have identified the (social) marketing
potential of ‘sustainable development (SD) icon projects’ (highly visible SD
features/characteristics) as a significant driver of stakeholder value. However, utilization of this
driver of stakeholder value demands accurate valuation and subsequent integration into the
financial feasibility evaluation of adaptation projects.