As the original stewards of their territories, the Coastal First Nations along British Columbia’s North Coast, Central Coast and Haida Gwaii have been working to establish and grow Guardian Watchmen programs, in some cases for several decades. These programs have come to play an important role in contemporary environmental stewardship. Though they differ from Nation to Nation, the mandate of the programs is to safeguard the Coastal First Nations’ natural and cultural resources, so that these Nations can continue to sustain viable, healthy communities for generations to come. Guardian Watchmen programs require financial support from their Nations and other funding partners. As such, it is reasonable to ask: are they worth it? To help answer this question, a business case analysis of Coastal Guardian Watchmen programs was undertaken. Key findings are included in this report, which examines the net value of program costs and benefits from the perspective of the First Nations that have these programs.