The full cost of recovering all of Australia’s threatened animals and plants has been calculated for the first time.
Research led by the University of Queensland and CSIRO—and published in Nature Ecology and Evolution—has estimated the annual cost to fully restore populations of 1657 threatened terrestrial and freshwater species to be $583 billion.
“Stopping Australia’s extinction crisis is critical as the plight of threatened species is indicative of broader ecosystem problems,” Dr April Reside from UQ’s School of the Environment said.
“This huge cost—which is 25 per cent of GDP—shows the scale of the challenge.
“But there are many interventions that can be achieved to provide far-reaching benefits beyond threatened species, such as restoring traditional fire regimes, managing invasive species, and restoring and protecting habitats.
“These actions would enhance soil stability, improve water quality and sequester significant amounts of carbon,” Dr Reside added.
Agriculture could also benefit from such investment, research co-author Professor James Watson said.
“We would be reducing the economic impact of pests and weeds, which costs the sector billions of dollars annually.
“Threat abatement strategies also generate many thousands of jobs, particularly in rural and Indigenous communities, fostering economic resilience and social equity.”
The researchers hope to have their work incorporated into decision-making for sustainability across all sectors of the economy along with climate adaptation planning in collaboration with Indigenous Traditional Owners and communities where possible.
