Leveraging natural capital accounting to support businesses with nature-related risk assessments and disclosures.

Nature loss threatens businesses, the global economy and financial stability. Understanding and addressing these risks for business will require credible measurement approaches and data. This paper explores how natural capital accounting (NCA) can support business data and information needs related to nature, including disclosures aligned with the Taskforce on Nature-related Financial Disclosures recommendations. As businesses seek to measure, manage and disclose their nature-related risks and opportunities, they will need well-organized, consistent and high-quality information regarding their dependencies and impacts on nature, which few businesses currently collect or track in-house. NCA may be useful for these purposes but has not been widely used or applied by businesses. National NCA guided by the U.N. System of Environmental-Economic Accounting may provide: (i) a useful framework for businesses in conceptualizing, organizing and managing nature-related data and statistics; and (ii) data and information that can directly support business disclosures, corporate NCA and other business applications. This paper explores these opportunities as well as synergies between national and corporate natural capital accounts. In addition, the paper discusses key barriers to advancing the wider use and benefits of NCA for business, including: awareness of NCA, data access, business capabilities related to NCA, spatial and temporal scales of data, audit and assurance considerations, potential risks, and costs and incentives. This article is part of the theme issue 'Bringing nature into decision-making'.

Green finance improves enterprises' environmental, social and governance performance: A two-dimensional perspective based on external financing capability and internal technological innovation.

This paper takes the establishment of the Green Financial Reform and Innovation Pilot Zone (GFPZ) in 2017 as a natural experiment, adopts the data of a-share industrial listed enterprises in Shanghai and Shenzhen from 2010 to 2020, and utilizes the difference-in-differences (DID) method to carry out empirical tests. The results show that (1) GFPZ policy significantly improves the environmental, social, and governance (ESG) performance of enterprises, and the positive effect is mainly realized by improving the external financing ability and green-technology innovation level of enterprises. (2) There is heterogeneity in the impact of GFPZ policy on the ESG performance of firms with different equity natures and internal control levels. (3) Green finance promotes active corporate social responsibility, and it can further improve environmental governance in the regions where it operates. This paper provides a useful supplement to the comprehensive understanding of green-finance policy effects and ESG impact factors, and it is of great significance in mitigating the negative environmental and social externalities caused by the excessive pursuit of economic benefits by enterprises.

Assessment of urban ecosystem health and its influencing factors: a case study of Zibo City, China.

Urban ecosystem health is the foundation of sustainable urban development. It is important to know the health status of urban ecosystem and its influencing factors for formulating scientific urban development planning. Taking Zibo city as the study area, the indicators were selected from five aspects: ecosystem vigor, structure, resilience, service function and population health to establish an assessment index system of urban ecosystem health. The health level of urban ecosystem was assessed, and its changing trend was analyzed from 2006 to 2018 in Zibo. Furthermore, obstacle degree analysis and sensitivity analysis were used to quantitatively analyze the main obstacle factors and sensitivity factors affecting urban ecosystem health, so as to provide references for improving urban ecosystem health. The results showed that the health level of urban ecosystem in Zibo showed an upward trend from 2006 to 2018. The poor structure and ecological environment quality were the main obstacle factors to urban ecosystem health. The impact of changes in a single indicator on urban ecosystem health gradually decreased, but the sensitivity index of indicators had obvious differences. Urban ecosystem health was sensitive to changes in ecosystem structure and resilience. In the future, Zibo should strengthen ecological construction, optimize the industrial structure, and develop green economy to promote urban ecosystem healthy.

Assessment of land use management and its effect on soil quality and carbon stock in Ebonyi State, Southeast Nigeria.

Evaluating soil quality (SQ) resulting from land management use impact is important for soil carbon (C) monitoring, land sustainability and suitability. However, the data in less developed regions of Africa like Nigeria is scarce, limiting our understanding at global scale. The study evaluated land management use on soil quality in Ebonyi State, Nigeria, a representative region of Africa. Soil samples were collected in 2021 and resampled in 2022 from regions including five land use managements (FS = forest soil; GLS = grass land soil; ACS = alley cropping Soil; SDS = sewage dump-soils; CCS = continuously cultivated soil). Soil physical and chemical properties were analyzed and discussed. The results shows that soil physical properties (bulk density, hydraulic conductivity, aggregate stability) were significantly (P < 0.05) influenced by land use management. Moderate to high bulk density, very low hydraulic conductivity (HC), and low aggregate stability were observed across land management, suggesting potential inhibition to root penetration, poor aeration, and water infiltration. Improved land management practices such as planting of cover crops either for re-grassing or addition of crop residues could be adopted as conservative options for increasing soil quality and encourage additional soil C. Soil pH decreased with the increase in soil depth in all land uses for both years. A higher soil pH of 6.78 (slightly acidic) was seen in SDS and lower mean 6.0 (moderately acidic) was obtained in CCS at 0-20 cm in 2021. The average mean nitrogen content was rated "very high" (0.81 g kg-1 and 0.69 g kg-1) in 2021 and 2022 respectively, suggesting nitrogen might not be a limiting factor for plant growth in the region. During the 2021 and 2022 study periods, the overall average mean C stock were 12.71 g kg-1 and 15.87 g kg-1 respectively suggesting 3.1 g kg-1 C stock increment in 2022. Soil inorganic C also increased by 9.86 g cm-2 in 2022. The study provided crucial information about how land management use affected soil physico-chemical properties including C stock and suggested that C stock could be improved by adopting appropriate land management use practices. The results fill a data gap in under-studied regions, but also facilitate potential land management practices.

Assessing the economic value of Posidonia oceanica (L.) at Tremiti Islands (Mediterranean Sea): An ecosystem condition-based approach.

In the context of limiting global warming, the seagrass Posidonia oceanica (L.) gained the centrality of several international climate change mitigation projects being the most effective carbon storage sink among Mediterranean seagrasses. To assess and monitor the change of environmental conditions and economic values of natural resources, the present study moves from the insights of the System of Environmental-Economic Accounting - Ecosystem Accounting to assess the economic value of the carbon sequestration and storage capacity of the Mediterranean-endemic seagrass P. oceanica at the Tremiti Islands Marine Protected Area. The economic value is compared across: i. the reference study by Pergent-Martini et al.; ii. the ecological condition-based approach; and iii. the unit value transfer. Based on the obtained outcomes, an ecosystem-based approach would prevent biases in the accounting of the ecosystem-service provision capacity of P. oceanica and help the policy maker to implement adequate public investment policies to mitigate its overall degradation.

Cultural landscape resilience evaluation of Great Wall Villages: A case study of three villages in Chicheng County.

The Great Wall Villages (GWVs) are linked to the Great Wall in history, culture, and ecology. The cultural landscape resilience of Great Wall Villages (CLRGWVs) is distinctly significant. However, it is influenced by urbanization, pollution, and a lack of awareness of cultural landscape protection. Therefore, conservation and development practices still lack scientific strategies and guidance. This study proposes a new assessment system to quantify CLRGWVs, an analysis of the main influencing factors of resilience, and optimization paths to maintain sustainable development. Based on the socio-ecological system, this research designed the assessment with three criteria, eleven factors, and thirty-three indexes from the perspective of CLRGWVs. Furthermore, a demonstration test was constructed in Ningyuanbao Village, Dushikou Village, and Longmensuo Village in Chicheng County, Hebei Province, China. The results showed that there is some disparity between the three GWVs, with the resilience score of Dushikou Village being the highest in terms of resistance and learning. In contrast, Ningyuanbao Village's resilience score is the lowest since resistance, recovery, and learning capacity are lower than in Dushikou and Longmensuo. Some influencing factors were found to be highly related to adaptive capacity. Lastly, some low-resilience aspects were identified as critical improvement targets for which corresponding optimization strategies should be proposed. This could be applied to streamline resilience optimization paths according to local conditions. This paper provides new ideas and directions for dealing with the sustainable development of villages and the conservation of cultural landscapes. It will also help villages deal with the relationship between socio-economic development and the conservation of cultural landscapes.

Balancing economic and ecological functions in smallholder and industrial oil palm plantations.

The expansion of the oil palm industry in Indonesia has improved livelihoods in rural communities, but comes at the cost of biodiversity and ecosystem degradation. Here, we investigated ways to balance ecological and economic outcomes of oil palm cultivation. We compared a wide range of production systems, including smallholder plantations, industrialized company estates, estates with improved agronomic management, and estates with native tree enrichment. Across all management types, we assessed multiple indicators of biodiversity, ecosystem functions, management, and landscape structure to identify factors that facilitate economic-ecological win-wins, using palm yields as measure of economic performance. Although, we found that yields in industrialized estates were, on average, twice as high as those in smallholder plantations, ecological indicators displayed substantial variability across systems, regardless of yield variations, highlighting potential for economic-ecological win-wins. Reducing management intensity (e.g., mechanical weeding instead of herbicide application) did not lower yields but improved ecological outcomes at moderate costs, making it a potential measure for balancing economic and ecological demands. Additionally, maintaining forest cover in the landscape generally enhanced local biodiversity and ecosystem functioning within plantations. Enriching plantations with native trees is also a promising strategy to increase ecological value without reducing productivity. Overall, we recommend closing yield gaps in smallholder cultivation through careful intensification, whereas conventional plantations could reduce management intensity without sacrificing yield. Our study highlights various pathways to reconcile the economics and ecology of palm oil production and identifies management practices for a more sustainable future of oil palm cultivation.

Evaluation the impact of electricity consumption on China's air pollution at the provincial level.

As the world's largest electricity-consuming country, China faces the challenge of energy conservation and environmental pollution. Therefore, it is imperative that China takes decisive action to address these issues. Based on the panel data of 30 provinces (cities, districts) in China from 2011 to 2020, we use the entropy method to measure the air pollution index in different provinces, construct two fixed effects models, panel quantile model, and spatial Durbin model to empirically analyze the impact of electricity consumption on air pollution in China's provincial regions. The experimental results show that: (1) Electricity consumption has a significant positive impact on the provincial air pollution index in China and the higher the index is, the more serious the air pollution is. When the electricity consumption increases 1%, the air pollution index will increase of by 0.0649% as accompanied. (2) Through comparison of different times, we found that the degree of increase in air pollution index caused by electricity consumption would be reduced due to the improvement of environmental protection efforts. From the perspective of different geographical locations, the electricity consumption in the southeast side of the "Hu Line" has exacerbated the impact on air pollution index. (3) According to the panel quantile regression results, the marginal effect of electricity consumption on air pollution is positive. With the increase of quantiles, the impact of electricity consumption on air pollution is increasing. (4) Spatial effect analysis shows that electricity consumption has a significant positive spatial spillover effect on air pollution index. The increase in electricity consumption not only increases the air pollution index in the local region, but also leads to an increase in the air pollution index in surrounding areas. These findings contribute to the governance of air pollution and the promotion of sustainable economic, environmental and energy development.

Spatio-temporal heterogeneity and coupling effect of mining economy, social governance and environmental conservation: Evidence from Guangxi Zhuang Autonomous Region, China.

In order to solve the problem of coordinated development among mining economy, social governance and environmental conservation in global resource-based cities, we choose Guangxi Zhuang Autonomous Region as the research area. The advantage of resource endowment and resource industry was measured by location quotient and input-output method. The panel data related to mining governance from 2010 to 2021 were selected to build the evaluation and coupling analysis model between mining economic, social governance and environmental conservation, and the spatial-temporal heterogeneity and coupling effect of them were analyzed by comprehensive empowerment evaluation, spatial autocorrelation analysis and barrier degree methods. The results show that: (1) Except for the overall upward trend of social governance, the development level of mining economy and environmental conservation are basically stable; (2) The resource-rich areas have obvious mining economic advantages, and the central cities have good social governance capabilities, and the environmental conservation effectiveness is uncertain; (3) The coupling effect between mining economy and social governance is stronger than that between mining economy and environment conservation, and the synergistic coupling effect of the three is relatively random. Finally, we put forward some policy response strategies to Guangxi, and theoretical and practical reference would be provided for resource-based cities around the world.

Evaluation of sustainable development capacity of water sources: a case study of China.

The issue of water scarcity has drawn attention from all over the world. The coordination of the interaction between ecological and environmental development of water sources and socio-economic development is currently an essential issue that needs to be solved in order to safeguard the water resources environment for human survival. In this essay, we suggest a paradigm for assessing the sustainable exploitation of water resources. First, three ecological, economic, and social factors are investigated. Twenty essential evaluation indexes are then constructed using the Delphi approach, along with an index system for assessing the potential of water sources for sustainable development. The weights of each evaluation index were then determined using the combination assignment approach, which was then suggested. The coupled degree evaluation model of the capability for sustainable development of water sources was then developed. In order to confirm the viability and validity of the suggested model, the model was used to assess the Liwu River water source's capacity for sustainable growth in the context of the South-North Water Transfer in Shandong, China. It is believed that the aforementioned study would serve as a helpful resource when evaluating the capacity of water sources for sustainable development.

Does the "Belt and Road Initiative" benefit the environment? Insight from analysis of intra-industry trade in environment goods.

The expansion of the Belt and Road Initiative (BRI) has raised a wide range of concerns about its environmental impact. Therefore, from the perspective of environmental impacts, this study used the two-way fixed effect staggered differences in differences (TWFE Staggered DID) method to examine the impact of the BRI on the Environment Goods (EGs) intra-industry trade (IIT) between China and other Belt and Road (B&R) countries, including a sample of 191 countries, covering the period from 2010 to 2019 for eliminating the impact of COVID-19 and the financial crisis in 2008 and 2009. Because only 135 countries signed a Memorandum of Understanding between 2010 and 2019, this study treated these B&R countries as the study group, and the other 73 countries (non-B&R countries) as the control group. This study described EGs using the 54 6-digit code Environment Goods in Harmonized Commodity Description and Coding System listed in the "APEC LIST OF ENVIRONMENT GOODS" published by the Asia-Pacific Economic Cooperation in 2012, and used the intra-industry trade index proposed by Grubel and Lloyd in 1971 to measuring dependent variable. The research results indicated that the BRI has significantly promoted bilateral EGs IIT. The mechanism test implied that, in addition to direct impacts, the BRI also has indirect impacts by boosting the energy restructuring of B&R countries. These results prove that the BRI has positive impacts on the environment. The heterogeneity test showed that there is a heterogeneous impact depending on the type of IIT, product categorization, B&R countries' income levels, and geographic environment. This study not only gives theoretical and empirical evidence of the positive environmental impacts of the BRI, but also provides practical guidance for the development of EGS IIT between China and B&R countries, thereby contributing to global carbon emissions reduction and environmental governance to some degree.

Impacts of commodity prices and governance on the expansion of tropical agricultural frontiers.

Deforestation in the tropics remains a significant global challenge linked to carbon emissions and biodiversity loss. Agriculture, forestry, wildfires, and urbanization have been repeatedly identified as main drivers of tropical deforestation. Understanding the underlying mechanisms behind these direct causes is crucial to navigate the multiple tradeoffs between competing forest uses, such as food and biomass production (SDG 2), climate action (SDG 13), and life on land (SDG 15). This paper develops and implements a global-scale empirical approach to quantify two key factors affecting land use decisions at tropical forest frontiers: agricultural commodity prices and national governance. It relies on data covering the period 2004-2015 from multiple public sources, aggregated to countries and agro-ecological zones. Our analysis confirms the persistent influence of commodity prices on agricultural land expansion, especially in forest-abundant regions. Economic and environmental governance quality co-determines processes of expansion and contraction of agricultural land in the tropics, yet at much smaller magnitudes than other drivers. We derive land supply elasticities for direct use in standard economic impact assessment models and demonstrate that our results make a difference in a Computable General Equilibrium framework.

Analyzing green and sustainable land use in China's coal cities: Insights from industrial transformation.

Driven by the goal of achieving sustainable development and carbon neutrality. Addressing environmental pollution and remediating land damage have become critical challenges in resource-based cities and regions with low land use efficiency. As a response, this study focuses on the 23 provinces where China's coal resource-based cities are situated. Utilizing data from 2014 to 2020, this research employs the SBM-Undesirable model, which considers undesirable outputs in efficiency calculations, and the Tobit regression test. It aims to explore the spatio-temporal variations in industrial transformation within resource-based cities and its impact on the efficiency of green space utilization. Furthermore, it analyzes the characteristics and the extent of the influence of factors such as industrial structure adjustments on urban land use efficiency, maximizing the output of land as a factor of production. The results show that: (1) Over the 7-year period studied, China consistently made nationwide adjustments to land area and land use structure to meet the needs of urban development (2) The regression test results show that the industrial transformation of resource-based cities can promote the improvement of green space utilization efficiency. The positive influence coefficient is 0.064 and is significant at a 1% level. (3) Environmental regulation, government expenditure, international trade, and green cover play a positive role in promoting green land use. The study provides valuable insights for policymakers and urban planners seeking to foster sustainable development in resource-based cities.

Plant cultural indicators of forest resources from the Himalayan high mountains: implications for improving agricultural resilience, subsistence, and forest restoration.

AIM: Biocultural legacy practices are intricately tied to forestry resources, ethnic identity, and social cohesiveness. This study aims to determine the plant cultural values of forest resources and identify plant cultural indicators in each ethnic group, which can aid in long-term natural resource management plans in the current debate on socio-environmental and ecological transitions. METHODS: Semi-structured interviews, focus group discussions, and field observations were employed to collect data for a comprehensive and systematic ethnobotanical survey from February 2018 to October 2022. RESULTS: A total of 330 informants reported 154 plant species from 65 families. Asteraceae was the most prominent botanical family, with herbaceous plant groups outnumbering trees and shrubs. The Gujjar and Pahari groups exhibited the highest level of overlap, followed by significant overlaps between the Gujjar and Kashmiri communities. The close affinity observed between the Gujjar and Pahari groups suggests the horizontal pattern of local plant knowledge between these communities, influenced by their sociocultural interactions and intermarriages. Notably, the Pahari community displayed a rich understanding of medicinal plants and shared unique uses for the reported taxa. This study affirms that both ecological factors and sociocultural influences have played significant roles in shaping local plant knowledge. A total of 31 plant species have been identified as plant cultural markers among all four ethnic groups. We observed a positive correlation between plant cultural values and plant use with the Gujjar and Kashmiri ethnic groups. Artemisia absinthium reported the highest use value of (0.57) with use reports of (189). Adonis aestivalis, Cynoglossum nervosum, Geum elatum, Geranium himalayense, Juncus inflexus, Oxalis acetosella, Polygonatum biflorum, and Salvia hians from the Himalayan region are among the plant taxa whose ethnomedicinal applications are described here for the first time. CONCLUSION: Our data show that local and indigenous forest knowledge and practices could significantly contribute to forest conservation and ecological transition. This may happen if stakeholders generate clear frameworks and biocultural conservation strategies aimed at both dynamically preserve natural habitats and ways of traditional management of local natural resources.

Corporate ESG and total factor productivity: Will the fulfillment of social responsibility sacrifice productivity?

With the increasing prominence of climate and energy issues, enterprises, as the micro-subjects of economic activities, need to pay attention to environmental responsibility to promote sustainable and high-quality economic development. However, one of the crucial controversies is whether enterprises will sacrifice efficiency to fulfill their environmental responsibilities. To try our best to answer the controversy, this paper explores the impact of ESG on total factor productivity and its mechanism. The research conclusion shows that Chinese enterprises fulfilling ESG responsibilities can improve staff efficiency, reduce financing costs, ease financing constraints, and increase innovation investment, thus effectively improving total factor productivity. Compared to non-state-owned enterprises, this effect is more significant in state-owned enterprises. In addition, the promotion of ESG construction on the total factor productivity of enterprises also presents specific acceleration characteristics. This shows that in the socialist market economy environment, there is an obvious "social responsibility dividend" in the implementation of the ESG concept by Chinese enterprises, which is helpful to enhance their long-term value and realize a win-win of social value and commercial value. The conclusions of this study help deal correctly with the relationship between business value and social value of enterprises and provide inspiration for promoting healthy and sustainable economic development.

Shifting from techno-economic to socio-ecological priorities: Incorporating landscape preferences and ecosystem services into the siting of renewable energy infrastructure.

This study examines the siting scenarios for renewable energy installations (REI) in a mountainous region of Europe (Switzerland), incorporating the external costs of ecosystem services and, innovatively, social preferences. This approach challenges the prevalent techno-economic siting paradigm, which often overlooks these externalities. To minimize the external costs of the scenarios while maximizing energy yield, Marxan, an optimization software, was employed. The energy target for all scenarios is set at 25 TWh/a, stemming from the energy gap anticipated due to the phase-out of Swiss nuclear reactors by 2050. This target is met using renewable energy infrastructure such as wind, roof-mounted photovoltaic, and ground-mounted photovoltaic systems. By integrating social preferences into the optimization, this study showcases a promising implementation that transcends the software's intended applications. It complements techno-economic approaches and offers alternative decision-making avenues. The conventional "roof first" strategy proved ineffective in preventing extensive land use for the development of new renewable energy infrastructure. Strategies incorporating ground-mounted photovoltaic infrastructure were more spatially, ecologically, and socially efficient than those without. The strategy optimized for energy yield exhibited the highest spatial efficiency but incurred significant ecosystem service costs and, surprisingly, had low social costs. In contrast, the strategy prioritizing ecosystem services was the most efficient in terms of ecosystem service costs but had elevated social costs and was spatially less efficient than other strategies. The strategy optimized for social preferences incurred the lowest social costs and excelled in spatial efficiency and ecosystem service costs. Notably, this strategy employed a limited number of planning units linked to both high ecosystem service and social costs. The findings underscore that incorporating social preferences significantly enhances the evaluation of siting options. This inclusion allows for the social acceptance of investments to be factored into costs, facilitating more informed and inclusive decisions.

An assessment of the state of conservation planning in Europe.

Expanding and managing current habitat and species protection measures is at the heart of the European biodiversity strategy. A structured approach is needed to gain insights into such issues is systematic conservation planning, which uses techniques from decision theory to identify places and actions that contribute most effectively to policy objectives given a set of constraints. Yet culturally and historically determined European landscapes make the implementation of any conservation plans challenging, requiring an analysis of synergies and trade-offs before implementation. In this work, we review the scientific literature for evidence of previous conservation planning approaches, highlighting recent advances and success stories. We find that the conceptual characteristics of European conservation planning studies likely reduced their potential in contributing to better-informed decisions. We outline pathways towards improving the uptake of decision theory and multi-criteria conservation planning at various scales, particularly highlighting the need for (a) open data and intuitive tools, (b) the integration of biodiversity-focused conservation planning with multiple objectives, (c) accounting of dynamic ecological processes and functions, and (d) better facilitation of entry-points and co-design practices of conservation planning scenarios with stakeholders. By adopting and improving these practices, European conservation planning might become more actionable and adaptable towards implementable policy outcomes. This article is part of the theme issue 'Ecological novelty and planetary stewardship: biodiversity dynamics in a transforming biosphere'.

Bioeconomy and ethnopharmacology - Translational perspective and sustainability of the bioresources of northeast region of India.

ETHNOPHARMACOLOGICAL RELEVANCE: The ecological environment of Northeast region of India (NER), with its high humidity, has resulted in greater speciation and genetic diversity of plant, animal, and microbial species. This region is not only rich in ethnic and cultural diversity, but it is also a major biodiversity hotspot. The sustainable use of these bioresources can contribute to the region's bioeconomic development. AIM OF THE STUDY: The review aimed to deliver various perspectives on the development of bioeconomy from NER bioresources under the tenets of sustainable utilization and socioeconomic expansion. MATERIALS AND METHODS: Relevant information related to prospects of the approaches and techniques pertaining to the sustainable use of ethnomedicine resources for the growth of the bioeconomy were retrieved from PubMed, ScienceDirect, Google Scholar, Scopus, and Springer from 1984 to 2023. All the appropriate abstracts, full-text articles and various book chapters on bioeconomy and ethnopharmacology were conferred. RESULT: As the population grows, so does the demand for basic necessities such as food, health, and energy resources, where insufficient resource utilization and unsustainable pattern of material consumption cause impediments to economic development. On the other hand, the bioeconomy concept leads to "the production of renewable biological resources and the conversion of these resources and waste streams into value-added products. CONCLUSIONS: In this context, major emphasis should be placed on strengthening the economy's backbone in order to ensure sustainable use of these resources and livelihood security; in other words, it can boost the bio-economy by empowering the local people in general.

Natural capital approaches for the optimal design of policies for nature recovery.

By embedding a spatially explicit ecosystem services modelling tool within a policy simulator we examine the insights that natural capital analysis can bring to the design of policies for nature recovery. Our study is illustrated through a case example of policies incentivising the establishment of new natural habitat in England. We find that a policy mirroring the current practice of offering payments per hectare of habitat creation fails to break even, delivering less value in improved flows of ecosystem services than public money spent and only 26% of that which is theoretically achievable. Using optimization methods, we discover that progressively more efficient outcomes are delivered by policies that optimally price activities (34%), quantities of environmental change (55%) and ecosystem service value flows (81%). Further, we show that additionally attaining targets for unmonetized ecosystem services (in our case, biodiversity) demands trade-offs in delivery of monetized services. For some policy instruments it is not even possible to achieve the targets. Finally, we establish that extending policy instruments to offer payments for unmonetized services delivers target-achieving and value-maximizing policy designs. Our findings reveal that policy design is of first-order importance in determining the efficiency and efficacy of programmes pursuing nature recovery. This article is part of the theme issue 'Bringing nature into decision-making'.