Financing conservation by valuing carbon services produced by wild animals

Abstract

Significance The involvement of financial markets is critical to deliver effective and long-lasting solutions to mitigate climate change and reverse biodiversity loss. However, financial markets have not invested in ecosystem services because these are often valued based on non-market prices, which deter investments. Based on existing carbon market prices, we value the carbon services produced by forest elephants and show that wild animals’ carbon services are valuable enough to attract investors. This framework would facilitate financing of conservation programs and local communities and broaden the portfolio of nature-based solutions to mitigate climate change.