The new standards call for conservation researchers, managers and practitioners to describe critical aspects of reported conservation costs, including the objective and outcome, context and methods, as well as scale of costs, dates and currencies.
The aim is to enable conservation projects to deliver enough contextual and financial information for future users to interpret the cost data accurately so they can transfer the understanding of how much a conservation project costs to studies and other similar projects.
“Different organisations approach conservation interventions in different ways and have different outcomes,” says Dr Iacona.
“But estimating how much a conservation project costs an organization is difficult. These estimates are critical for conservation decision makers because in order to identify the best way to solve a conservation problem, we have to be able to compare the benefits of different conservation actions and how much they would cost to implement,”
“A standardised costings approach allows for relevant comparison of different interventions, which then improves the effectiveness of conservation planning.”