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Filling the global biodiversity financing gap will require significant investments from financial markets, which demand credible valuations of ecosystem services and natural capital. However, current valuation approaches discourage investment in conservation because their results cannot be verified using market-determined prices. Here, we bridge the gap between finance and conservation by valuing only wild animals' carbon services for which market prices exist. By projecting the future path of carbon service production using a spatially explicit demographic model, we place a credible value on the carbon capture services produced by African forest elephants. If elephants were protected, their services would be worth $20.8 billion ($10.3 to $29.7 billion) and $25.9 billion ($12.8 to $37.6 billion) for the next 10 and 30 y, respectively, and could finance anti-poaching and conservation programs. Elephant population growth would generate a carbon sink of 109 MtC (64 to 153) across tropical Africa in the next 30 y. Avoided elephant extinction would also prevent the loss of 93 MtC (46 to 130), which is the contribution of the remaining populations. Uncertainties in our projections are controlled mainly by forest regeneration rates and poaching intensity, which indicate that conservation can actively reduce uncertainty for increased financial and biodiversity benefits. Our methodology can also place lower bounds on the social cost of nature degradation. Poaching would result in $2 to $7 billion of lost carbon services within the next 10 to 30 y, suggesting that the benefits of protecting elephants far outweigh the costs. Our methodology enables the integration of animal services into global financial markets with major implications for conservation, local socioeconomies, and conservation. [ABSTRACT FROM AUTHOR]

Plant trait variability, emerging from eco-evolutionary dynamics that range from alleles to macroecological scales, is one of the most elusive, but possibly most consequential, aspects of biodiversity. Plasticity, epigenetics, and genetic diversity are major determinants of how plants will respond to climate change, yet these processes are rarely represented in current vegetation models. Here, we provide an overview of the challenges associated with understanding the causes and consequences of plant trait variability, and review current developments to include plasticity and evolutionary mechanisms in vegetation models. We also present a roadmap of research priorities to develop a next generation of vegetation models with flexible traits. Including trait variability in vegetation models is necessary to better represent biosphere responses to global change. Dynamic vegetation models are the main tools to assess climate change effects on terrestrial vegetation. Therefore, a realistic representation of biological processes in these models is of utmost importance. Intraspecific trait variability is ubiquitous in plants and, thus, the underlying processes causing it should be represented. Yet, trait variability is only used to a limited extent in current vegetation models. Empirical and theoretical studies make clear that intraspecific trait variability underpins evolutionary and plastic plant responses to environmental changes. We review progress towards 'next-generation' models that include evolutionary and plastic processes, including those explicitly representing genetic mechanisms. Modeling paradigms where plant diversity emerges mechanistically are necessary to understand both functional trade-offs (e.g., leaf and wood economics spectra) and spatial patterns of genetic and phenotypic variability as exposed by genomic and ecological data. [ABSTRACT FROM AUTHOR]