AS GOVERNMENTS around the world convened to address the climate crisis at the 2022 United Nations (UN) Climate Change Conference (COP27) in recent days, decarbonisation took centre stage as a critical frontier in the escalating environmental emergency. The fight against climate change is a serious undertaking of David-and-Goliath proportions, but there is a need for a more holistic approach to protect biodiversity.

Biodiversity conservation has often been valued in terms of the scientific value of the natural environment and the wildlife that inhabits it. This is extremely important, but it does not paint a complete picture of the value of these natural environments relative to the economics of the climate crisis.

The International Monetary Fund leads the charge, having studied the value of wildlife in relation to the ecosystem services which these animals provide – in other words, the direct and indirect benefits that biodiversity provides for humanity.