Legal and sustainable wild species tradeLearnings and implications for nature market governance

Published 15 June 2023

‘Effective governance of wild species trade markets requires a multifaceted and holistic strategy’

This joint paper by the Taskforce on Nature Markets and TRAFFIC asserts the crucial role of the business and finance sectors in facilitating strong nature markets and purging illegal and unsustainable trade in their commerce.

It demonstrates the high costs of inaction to address biodiversity loss for the sector; for example, between 1997 and 2011, the global economy suffered an estimated annual loss of USD4-20 trillion in ecosystem services4. Although, as it stands, measures by the financial sector are often still voluntary, the report outlines a set of recommendations.

Legal and sustainable wild species trade: Learnings and implications for nature market governance

Report author(s):
Paola Mosig Reidl, Sarah Baker Ferguson, with guiding feedback from Taskforce on Nature Markets Simon Zadek, Matthew Doncel, and Monique Atouguia

Publication date:
June 2023


  1. Convention on Biological Diversity
  2. Convention on International Trade in Endangered Species of Wild Fauna and Flora
  3. Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services
  4. OECD (2019) Biodiversity: Finance and the Economic and Business Case for Action. Prepared for the G7.

About Taskforce on Nature Markets

The Taskforce on Nature Markets’ core objective is to shape a new generation of purposeful nature markets that deliver nature positive and equitable outcomes.

The Taskforce is an initiative of, and hosted by, NatureFinance (previously the Finance for Biodiversity Initiative - F4B). It benefits from the broader portfolio of NatureFinance's work and the extensive knowledge of its partners and networks. The Taskforce is supported by the MAVA Foundation.

Find out more about the Taskforce on Nature Markets, its members, partners, work programme and how to get involved at