Bringing the economics of biodiversity into policy and decision-making: A target and cost-based approach to pricing biodiversity
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arXiv
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| Auteurs principaux: | , , , , , , , , , , , , , , , , , , , |
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| Format: | Preprint |
| Publié: |
2026
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| author | Groom, Ben Lowe, Joseph Ermgassen, Sophus zu Milner-Gulland, E. J. Atkins, Thomas Balmford, Ben Binner, Amy Butler, Amber Day, Brett Duffus, Natalie Hails, Rosie Maier-Peveling, Hannah Mancini, Mattia Meier, Sarah Nicholas, Hannah Rinaldo, Daniele Smale, Robin Snowdon, Pat Venmans, Frank Bateman, Ian J. |
| author_facet | Groom, Ben Lowe, Joseph Ermgassen, Sophus zu Milner-Gulland, E. J. Atkins, Thomas Balmford, Ben Binner, Amy Butler, Amber Day, Brett Duffus, Natalie Hails, Rosie Maier-Peveling, Hannah Mancini, Mattia Meier, Sarah Nicholas, Hannah Rinaldo, Daniele Smale, Robin Snowdon, Pat Venmans, Frank Bateman, Ian J. |
| contents | Given ongoing, human-induced, loss of wild species we propose the Target and Cost Analysis (TCA) approach as a means of incorporating biodiversity within government appraisals of public spending. Influenced by how carbon is priced in countries around the world, the resulting biodiversity shadow price reflects the marginal cost of meeting government targets while avoiding disagreements on the use of willingness to pay measures to value biodiversity. Examples of how to operationalize TCA are developed at different scales and for alternative biodiversity metrics, including extinction risk for Europe and species richness in the UK. Pricing biodiversity according to agreed targets allows trade-offs with other wellbeing-enhancing uses of public funds to be sensibly undertaken without jeopardizing those targets, and is compatible with international guidelines on Cost Benefit Analysis. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2601_16801 |
| institution | arXiv |
| publishDate | 2026 |
| record_format | arxiv |
| spellingShingle | Bringing the economics of biodiversity into policy and decision-making: A target and cost-based approach to pricing biodiversity Groom, Ben Lowe, Joseph Ermgassen, Sophus zu Milner-Gulland, E. J. Atkins, Thomas Balmford, Ben Binner, Amy Butler, Amber Day, Brett Duffus, Natalie Hails, Rosie Maier-Peveling, Hannah Mancini, Mattia Meier, Sarah Nicholas, Hannah Rinaldo, Daniele Smale, Robin Snowdon, Pat Venmans, Frank Bateman, Ian J. General Economics Economics Given ongoing, human-induced, loss of wild species we propose the Target and Cost Analysis (TCA) approach as a means of incorporating biodiversity within government appraisals of public spending. Influenced by how carbon is priced in countries around the world, the resulting biodiversity shadow price reflects the marginal cost of meeting government targets while avoiding disagreements on the use of willingness to pay measures to value biodiversity. Examples of how to operationalize TCA are developed at different scales and for alternative biodiversity metrics, including extinction risk for Europe and species richness in the UK. Pricing biodiversity according to agreed targets allows trade-offs with other wellbeing-enhancing uses of public funds to be sensibly undertaken without jeopardizing those targets, and is compatible with international guidelines on Cost Benefit Analysis. |
| title | Bringing the economics of biodiversity into policy and decision-making: A target and cost-based approach to pricing biodiversity |
| topic | General Economics Economics |
| url | https://arxiv.org/abs/2601.16801 |