Most everyone wants to prevent the extinction of species—at least until it impacts local livelihoods and paychecks. But, what would it cost taxpayers if we were to buy enough land to ensure the survival of all of the species on the planet?
A group of scientists and economists recently analyzed the cost of protecting all of the birds currently listed as endangered. The price tag: about $1.23 billion each year. To extend protection to all endangered species, the cost rises to nearly $5 billion annually. And to do the job right and protect all the sites identified as significant to biodiversity worldwide, it would cost about $76 billion annually.
These are steep price tags. And they don’t reflect the costs of human activities that are foregone as a result of the loss of access to protected lands. They also don’t include the costs to preserve the various species in the sea.
As a global society are we willing to foot the bill? Obviously, many developing nations aren’t going to ante up. But, a few years ago, a group of economists calculated the value of the services nature provides for us, from pollination to clean water. Their answer: $33 trillion dollars per year.
That means that the cost of species preservation is about 0.2% of the value of ecosystems. By that measure, species preservation is a great investment, and one that every citizen should be glad to support.
Photo, taken on January 13, 2011, courtesy of Pete Markham via Flickr.
Earth Wise is a production of WAMC Northeast Public Radio. Support for Earth Wise comes from the Cary Institute of Ecosystem Studies in Millbrook, NY, with partial support from the Field Day Foundation.