New research from the University of Queensland (UQ) and CSIRO estimates that the annual cost to fully restore populations of 1,657 threatened species is a staggering $583 billion.
That’s 25% of Australia’s GDP.
Previous estimates of the cost of recovering these terrestrial and freshwater species have been substantially smaller because they focused on preventing extinction, rather than achieving full species recovery. Many previous estimates also excluded key expenses such as planning, labour and contingencies.
This work from UQ and CSIRO is different.
They say that full species recovery will require widespread action across most of Australia, especially to manage fire, weed species and invasive predators, like cats and foxes, and herbivores, like rabbits and deer and more.
But the researchers were surprised to learn that the single most expensive measure wasn’t replanting native habitat or controlling cats and foxes. Instead, it’s tackling invasive weeds, such as blackberry and lantana. They say that at least 470 native plant species are threatened by invasive weeds, and that controlling weeds accounts for 81% of their total costs. This is because weeds cover such large areas of Australia.
What are the priorities?
The researchers also acknowledge that full recovery of all of Australia’s threatened species is not feasible from financial, technical or social perspectives. They want policymakers to balance nature restoration with other priorities. And considering that the total cost is out of reach, more research is needed to establish the best ways to invest effectively.
They also call for recovery actions to take place in a collaborative manner, with First Nations custodians and other land managers and stakeholders at the forefront of the work.
Dr Josie Carwardine from CSIRO said: ‘Our work shows the value of finding new ways to avoid further harm to our natural world, and the need to work toward a sustainable future where ecological health underpins economic prosperity and societal wellbeing.’
Dr April Reside from UQ said: ‘Integrating realistic biodiversity recovery costs in land-use planning, preventing further degradation of nature and reducing the long-term financial burden of environmental recovery are critical for ensuring a healthy environment and economy for generations to come.’
Where to from here?
IDEEA Group propose that measuring extent, condition, services and benefits in key ecosystems is the vital next step to determine investment priorities. Applying a natural capital approach helps decision-makers:
- understand where to invest
- measure investment success.
This approach will logically build upon the UQ and CSIRO research and provide the necessary data to inform action.
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The UQ and CSIRO research is published in Nature Ecology and Evolution. It was funded by the Australian Government’s National Environment Science Program Threatened Species Hub.