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The “Dasgupta Review” of the economics of biodiversity (Dasgupta 2021) identifies many factors that threaten the ecological sustainability of our economies. This article examines how two policy failures - the underpricing and underfunding of nature – influence global land use change and terrestrial biodiversity loss. If natural areas are priced too cheaply, then converting them to agriculture, forestry and other land uses is less costly than protecting or preserving habitats. Underfunding nature further reduces the incentives for conservation and restoration.

There is a growing recognition that conservation strategies should be designed accounting for cross-realm connections, such as freshwater connections to land and sea, to ensure effectiveness of marine spatial protection and minimize perverse outcomes of changing land-use. Yet, examples of integration across realms are relatively scarce, with most targeting priorities in a single realm, such as marine or freshwater, while minimizing threats originating in terrestrial ecosystems.