Modelling the net environmental and economic impacts of urban nature-based solutions by combining ecosystem services, system dynamics and life cycle thinking: An application to urban forests

•A novel semi-dynamic modelling framework for nature-based solutions (NBS) is presented.•Environmental impacts, financial values and externalities derived from NBS are calculated simultaneously.•Integration of life cycle thinking and ecosystem services permits a more comprehensive assessment of NBS.•A proof of concept urban forest model is used to illustrate the added value of the modelling framework.•The importance of design, planning and management decisions on NBS performance is demonstrated.