Designing a Natural Capital Approach to Estimating the Full Economic Costs_INNS

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Designing a Natural Capital Approach to Estimating the Full Economic Costs_INNS Invasive non-native species (INNS) represent a significant and growing threat to ecosystems and ecosystem services in GB. The arrival and establishment of these species can have severe adverse economic impacts on a wide range of sectors (e.g. agriculture, transport and utilities). As of 2019, there were 3,224 non-native species in Great Britain (GB), of which 2,010 were classified as established (reproducing in the wild) (Joint Nature Conservation Committee, 2020). Of these, 193 were considered to be invasive (i.e. exerting a negative impact on native biodiversity) with associated economic and financial costs. An estimated 10-12 new non-native species become established every year. (Department for Environment, Food and Rural Affairs, 2015) A 2010 study on “The Economic Costs of Invasive Non-Native Species on Great Britain” (Williams, et al., 2010) compiled useful estimates of the costs of INNS on GB by focussing on financial control costs and market impacts of INNS. In 2019, Atkins produced a scoping study for Defra setting out the proposed next steps to produce research that comprehensively estimates all the economic impacts, including natural capital impacts, of invasive non-native species. As such, in 2022, CABI were hired by Defra to produce an update estimate to the 2010 figures to reflect changes in the economic costs of INNS over the last decade (Eschen, et al., 2022) . However, there remains a significant gap in our understanding of the size and nature of the economic impacts of INNS, and as such, a better framework of estimating the costs is needed to help prioritise investment in prevention, intervention and management of INNS. A comprehensive estimate of the costs of INNS needs to include an assessment of the wider and non-direct costs of INNS. The 25-year Environment Plan (25 YEP) emphasizes the need for both a natural capital approach to valuing nature as a means of capturing non-market impacts and indirect costs, as well as the need for an effective strategy to dealing with INNS.