Back to StoriesHow Serious Are We, Really, About Protecting The Yellowstone Ecosystem?
What we can do is endeavor to keep the number of losses down. Achieving this will require that we do things differently than we have in the past. Most of the history of American conservation has focused on public lands, either their management or converting private property to public ownership. However, to stem the number of future extinctions in our country, we must focus increased energy on private lands. How these lands are managed will be the determining factor in whether many species of fish, wildlife, and plants thrive, survive, or fade into memory – even in a place as seemingly wild as the Greater Yellowstone Ecosystem.
But profitability means doing more than simply compensating landowners for livestock losses or regulatory takings. It means establishing conservation as a vehicle through which landowners can build financial wealth in the same, or ideally better, ways than traditional agriculture and subdivision can. Only then are we likely to see the kinds of changes in land use necessary to deliver conservation at the scales required to ensure the Greater Yellowstone Ecosystem continues to live up to the image those who call the region home, and millions of people around the world, have of it. The recreation economy will likely be part of this, but it has limited scalability in relation to conservation needs due to market size. More options are required.
Growing focus from the financial sector stands to significantly shape how conservation is practiced and for what end. It gives conservationists a chance to begin working with the kind serious money conservation deserves, and at the same time it could offer landowners in the Greater Yellowstone Ecosystem increased opportunities to profit from assets only they control—the land, water, and biodiversity that water markets, carbon markets, and biodiversity offsets depend on. Played right, this changing environment could deliver not only immense conservation benefits, but also an economic renaissance in rural communities struggling in the face of shifting global commodity markets.
What would investors potentially be putting their confidence in? Everything from keeping grasslands intact, to sequestering carbon, to supporting wildlife-dependent recreation businesses, to sustainable agriculture like carnivore-tolerant beef production. Indeed, a report prepared by investment bank Credit Suisse and the consulting firm McKinsey & Company found that sustainable agriculture was one of the largest tranches of conservation capital currently sitting on the sidelines.
Taking advantage of the growing interest of investors and businesses in conservation, however, will require laying some groundwork.
First, the biggest obstacle to getting investment capital to flow is a lack of investable projects. Landowner groups, conservationists, cooperative extensions, and wildlife agencies should begin the process of working together to reach out to and engage the financial sector with the goal of deepening understanding of how the range of conservation markets work, what investors need, what landowners can provide, and what changes in land management and business practices may need to be made.
In this vein, the governors of Montana, Idaho, and Wyoming should also task their relevant agencies with bringing conservation investment to their states in the same way they court investment in new mines, factories, and trade deals.Third, landowner groups, conservation organizations, and cooperative extensions need to create the necessary staffing and infrastructure to connect investors with landowners. These should include landowner advocates to help property owners navigate the complexities of conservation markets to ensure they are not taken advantage of.
February 9, 2022
How Serious Are We, Really, About Protecting The Yellowstone Ecosystem?If the answer is saving America's greatest wildlife region, Catherine Semcer writes, then a more valiant and courageous effort aimed at conserving private lands needs to begin right now
"Eyes of the Grizzly," a photograph of a wild Jackson Hole grizzly bear by Thomas D. Mangelsen. Grizzlies need private lands to move between public lands and they need humans who are not only responsible and smart about how they move through grizzly country but conscientious in the development decisions they make—or approve—that could negatively impact grizzly habitat. Habitat that benefits grizzlies benefits all species in Greater Yellowstone. To see more of Mangelsen's fine art photography, go to Mangelsen.com
EDITOR'S NOTE: Mountain Journal's main thrust of existence as a non-profit, public-interest force devoted to conservation journalism—i.e. stories exploring where humans intersect wild nature—is in the Greater Yellowstone Ecosystem. Greater Yellowstone, the last of its kind in the Lower 48 with all of its major mammals and other species still able to live and move across the landscape, holds many lessons. Those lessons provide insight, in turn, for the the rest of the American West—and the rest of the West has cautionary tales, in turn, for Greater Yellowstone. The following essay is written by Catherine E. Semcer who is not only a friend of ours, but a thought leader who happens to work at the Property and Environment Research Center (PERC) in Bozeman. PERC is a right-of-political center think tank funded by conservative entities and it champions free-market, libertarian, property-rights-first approaches to achieving conservation outcomes. Over the years, some of PERC's market approaches have been highly controversial. If the stated outcome of many citizens is achieving lasting protection for Greater Yellowstone's public and private lands, that results in the region better able to maintain its ecological health as represented by thriving wildlife populations, it is essential that all ideas be considered. And the question is: how can private property owners be better incentivized to do right and better by wild nature instead of contributing through their actions to its unraveling? Enjoy Catherine Semcer's essay and if you'd like to share your thoughts, which we may include at the bottom of her piece, you can email them to us by clicking here. Please keep them short, on point, civil and factual. —Todd Wilkinson
By Catherine E. Semcer
In 2021, the U.S. Fish and Wildlife Service announced that 23 species protected under the Endangered Species Act have gone extinct. This was a sobering moment that brought into focus a harsh reality: The destruction of ecosystems and loss of biodiversity is happening at home and not just in far-off tropical forests and distant coral reefs. These extinctions, which followed the obituaries of 11 others in years past, also made clear that for each success delivered by the North American Model of Wildlife Management, there have been many failures.
Unfortunately, the 34-plus U.S. species now confirmed extinct have a long line of creatures that may follow in their footsteps. With over 1,600 U.S. plants and animals currently on the federal list of threatened and endangered species, another 500 awaiting listing, and still another 16,000 identified by state agencies as being in great conservation need, it is clear that our work as conservationists is trending in the wrong direction.
The disturbing reality is that no matter what actions we take it is probable that additional extinctions are coming. As the climate changes and ecosystems fray, some extinctions set in motion long ago are already past the point of no return.
What we can do is endeavor to keep the number of losses down. Achieving this will require that we do things differently than we have in the past. Most of the history of American conservation has focused on public lands, either their management or converting private property to public ownership. However, to stem the number of future extinctions in our country, we must focus increased energy on private lands. How these lands are managed will be the determining factor in whether many species of fish, wildlife, and plants thrive, survive, or fade into memory – even in a place as seemingly wild as the Greater Yellowstone Ecosystem.
Most of the history of American conservation has focused on public lands, either their management or converting private property to public ownership. However, to stem the number of future extinctions in our country, we must focus increased energy on private lands. How these lands are managed will be the determining factor in whether many species of fish, wildlife, and plants thrive, survive, or fade into memory – even in a place as seemingly wild as the Greater Yellowstone Ecosystem.
Specifically, we should give priority to how we value private land stewardship and conservation outcomes are financed so more conservation opportunities can be realized. Success will depend on enacting policies and programs that enable property owners to see wildlife conservation as something that adds to their income statement instead of their expense report. It will be measured by the extent to which we are able to increase the area where landowners manage their property primarily for the conservation of biodiversity.
Private Lands and Conservation’s New Frontier
According to the U.S. Fish and Wildlife Service, nearly half of all species protected under the Endangered Species Act rely on private lands for 80 percent or more of their habitat. An additional 70 percent of “species in greatest conservation need” identified by state fish and wildlife agencies depend on private lands for their survival. These high percentages are consistent with the fact that 60 percent of the United States is privately owned and that within this figure we find 84 percent of the nation’s grasslands, nearly 75 percent of its wetlands, and 56 percent of its forests.
When we zero in on the Greater Yellowstone Ecosystem, the percentage of land that is privately owned drops to 32 percent. While making up a minority share of the ecosystem, these private lands—primarily grassland and sagebrush steppe habitat in valley bottoms and floodplains—play an outsized role maintaining the region’s biodiversity due to their lower elevations, higher plant productivity, and more gentle climate compared to public lands.
The physical characteristics of private lands are why 93 percent of the important bird habitat in Greater Yellowstone and 80 percent of the winter range for migrating elk are found on private lands. They are also why one-fifth of the riparian areas supporting Yellowstone cutthroat trout are on private lands, and why private lands are the last redoubt and best hope for endangered species like the black-footed ferret (see photo of ferret and caption below). Umbrella species like grizzly bears depend on private lands for 16 percent of their occupied habitat and as much as 39 percent of dispersal routes that connect the Yellowstone and Northern Continental Divide bear populations.
But even in one of America’s wildest corners, none of these values are secure. As Mountain Journal has discussed in the past, increasing suburban and exurban development on the region’s private lands is fragmenting habitat and threatening biodiversity. Where development has not yet tipped the scales, conflicts between livestock producers and wildlife have resulted in private lands becoming population sinks for rebounding populations of wolves and grizzly bears due to private landowners having few incentives to let these species use the habitat they provide.
The physical characteristics of private lands are why 93 percent of the important bird habitat in Greater Yellowstone and 80 percent of the winter range for migrating elk are found on private lands. They are also why one-fifth of the riparian areas supporting Yellowstone cutthroat trout are on private lands, and why private lands are the last redoubt and best hope for endangered species like the black-footed ferret (see photo of ferret and caption below). Umbrella species like grizzly bears depend on private lands for 16 percent of their occupied habitat and as much as 39 percent of dispersal routes that connect the Yellowstone and Northern Continental Divide bear populations.
But even in one of America’s wildest corners, none of these values are secure. As Mountain Journal has discussed in the past, increasing suburban and exurban development on the region’s private lands is fragmenting habitat and threatening biodiversity. Where development has not yet tipped the scales, conflicts between livestock producers and wildlife have resulted in private lands becoming population sinks for rebounding populations of wolves and grizzly bears due to private landowners having few incentives to let these species use the habitat they provide.
Yellowstone wolves: one fifth of all wolves in the national park were killed by hunters and trappers in the last six months when they wandered into Montana following migrating elk. The justification used is that wolves pose a significant economic threat to ranchers and they are decimating elk, two contentions that do not hold up to factual scrutiny. Much of the antipathy expressed toward wolves in rural Greater Yellowstone is based on culture, not economics. Still, how could greater tolerance for wolves be achieved if they were viewed as an asset to struggling mom and pop ranchers, not a liability? Would economics then trump culture? Photo courtesy Doug Smith/NPS
The conundrum with elk in Greater Yellowstone: elk, of course, are beloved by hunters but elk compete for grass with cattle on private ranches and they carry brucellosis that has been transmitted to livestock. In Montana today, there are an estimated 140,000 elk—more wapiti than have been in the state in 150 years and 50,000 elk over the total state population target devised by wildlife managers. Ranchers provide vital habitat for public wildlife and they are facing increasing economic pressures which makes them more willing to sell their land to developers. On top of it all, some ranchers despise wolves which have demonstrated an ability to move elk around so they don't bunch up on private ranches and wolves reduce elk numbers which helps to reduce the threat of brucellosis and, potentially, emerging Chronic Wasting Disease. Recently, PERC was involved in developing a new tool called "elk rents" that pays ranchers in Paradise Valley to allow elk to inhabit their land, especially when they need to do so during migration. Photo courtesy Flickr user Ian Sane CC-BY-2.0
Indeed, the mountain vistas and big skies of the wildest place in the lower 48 are steadily becoming a stage set of a conserved landscape. Recent research has also found that five out of nine wildland health indices, a measure used to assess ecosystem integrity, were deteriorating on private lands in the ecosystem. For public lands, the ratio was six out of nine. No matter how wild things might look or feel, behind the scenery the foundations of the extinction crisis are taking shape. Stopping and reversing these declines in ecosystem health requires conservationists to invest more energy and resources into supporting transformative conservation on private lands.
Historically conservationists have responded to the need for private lands conservation by expanding Farm Bill programs. But these programs will always be limited by the skepticism many rural landowners have about getting into bed with the government, and we can’t afford to rely on fickle government funding alone to address the scale of the challenge we face .
Improved regulatory incentives under the Endangered Species Act can help too. Policies like distinguishing how threatened species are managed in comparison to those listed as endangered, like the ESA’s authors intended, have the potential of giving landowners increased incentive to manage their land to increase a species abundance.
However, because the act is based in single-species management, these incentives risk setting the stage for a Sisyphean affair, one where we focus our efforts on a species in grave danger, while allowing ecologically damaging practices to continue that may ultimately push more species toward extinction, and continually find ourselves at the bottom of an ever steeper hill. While needed, these kinds of regulatory incentives require complementary policies and programs that serve as backstops and decrease the chance of this happening.
Improved regulatory incentives under the Endangered Species Act can help too. Policies like distinguishing how threatened species are managed in comparison to those listed as endangered, like the ESA’s authors intended, have the potential of giving landowners increased incentive to manage their land to increase a species abundance.
However, because the act is based in single-species management, these incentives risk setting the stage for a Sisyphean affair, one where we focus our efforts on a species in grave danger, while allowing ecologically damaging practices to continue that may ultimately push more species toward extinction, and continually find ourselves at the bottom of an ever steeper hill. While needed, these kinds of regulatory incentives require complementary policies and programs that serve as backstops and decrease the chance of this happening.
Increasing landowners’ access to America’s multi-billion dollar outdoor recreation economy via transferrable hunting permits and other vehicles moves the ball further in the right direction. Increased participation in this economy has been shown to increase landowner willingness to invest in and expand conservation practices on their property.. More importantly, it would also allow landowners to profit from good stewardship, creating a strong incentive to actively engage in conservation through habitat improvement and other practices.
Indeed, making conservation, especially the conservation of biodiversity, profitable will be key to keeping extinctions in the Greater Yellowstone Ecosystem and beyond at bay. One reason so many species have been pushed to and over the brink is because, more often than not, their conservation tallies as a financial cost instead of a benefit.
Westslope cutthroat trout, pictured here, and fluvial Arctic grayling are two native cold-water fish species that have been in decline. Among the major factors: habitat loss, hybridization with other trout, water removal from streams by ranchers to grow hay and crops, warming temperatures and low flows from meager snowpacks. The good news is that many private property owners are managing their lands to benefit fish. Ted Turner, at the Flying D Ranch, has carried out the largest westslope cutthroat recovery effort on a private ranch in history. Once again, how might economic incentives that result in more water being kept in streams better the prospects for trout? Photo courtesy Pat Van Eimeren/USFWS Northern Region
Conservation Is The Business That Enables Every Other Sustainable Business
Thankfully, opportunities to make conservation profitable for landowners are growing. The loss of biodiversity is no longer just a subject of concern for Patagonia-clad environmentalists and backwoods biologists. Wall Street, and financial markets in general, are demonstrating worry over species extinctions and other symptoms of ecological degradation and what they might mean for the future of the global economy. At the same time, concerns over similar economic risks posed by climate change are fueling interest in so-called nature-based solutions to help overcome the challenge.
How serious is this interest? The New York Stock Exchange recently created a new asset class, “natural asset companies,” with the stated intent of “preserving and restoring the natural assets that ultimately underpin the ability for there to be life on Earth.” The hope is that the vehicle will help investors better access “nature positive” opportunities that support ecosystem services, which already provide benefits valued at $125 trillion. According to UNEP’s 2021 State of Finance for Nature report, $8.1 trillion invested in nature-based climate solutions by 2050 can reduce global emissions by 30 percent. That equals about $290 billion per year, an amount magnitudes higher than the fiscal 2020 Farm Bill’s $829 million for conservation.
How serious is this interest? The New York Stock Exchange recently created a new asset class, “natural asset companies,” with the stated intent of “preserving and restoring the natural assets that ultimately underpin the ability for there to be life on Earth.” The hope is that the vehicle will help investors better access “nature positive” opportunities that support ecosystem services, which already provide benefits valued at $125 trillion. According to UNEP’s 2021 State of Finance for Nature report, $8.1 trillion invested in nature-based climate solutions by 2050 can reduce global emissions by 30 percent. That equals about $290 billion per year, an amount magnitudes higher than the fiscal 2020 Farm Bill’s $829 million for conservation.
Whitebark pine trees, as a species, are biologically imperiled with climate change being a major influence in not only drying out the high country and leaving it more vulnerable to fire but weakening trees making them more vulnerable to outbreaks of voracious insects like mountain pine beetles and fungal disease. The seeds in whitebark pine have been an important nutritional staple for grizzly bears in Greater Yellowstone. What can be done? Semcer says one tool is creating carbon markets that benefit private landowners who sequester carbon through wide stewardship practices and are financially rewarded for it. Stewardship that sequesters carbon also benefits wildlife. Photo of whitebark pine courtesy Glacier National Park. Below, a Greater Sage-Grouse, an imperiled bird whose critical habitat has been impaired by a number of factors, including full-field, public land natural gas development in the Pinedale Anticline and Jonah Field that are part of the Upper Green River Basin near Pinedale, Wyoming. PERC says better incentives offered to private ranchers would yield better conservation dividends for sage-grouse. Photo courtesy USFWS Mountain-Prairie
What would investors potentially be putting their confidence in? Everything from keeping grasslands intact, to sequestering carbon, to supporting wildlife-dependent recreation businesses, to sustainable agriculture like carnivore-tolerant beef production. Indeed, a report prepared by investment bank Credit Suisse and the consulting firm McKinsey & Company found that sustainable agriculture was one of the largest tranches of conservation capital currently sitting on the sidelines.
Taking advantage of the growing interest of investors and businesses in conservation, however, will require laying some groundwork.
Three Priorities Towards Adopting A Business Approach To Conservation
First, the biggest obstacle to getting investment capital to flow is a lack of investable projects. Landowner groups, conservationists, cooperative extensions, and wildlife agencies should begin the process of working together to reach out to and engage the financial sector with the goal of deepening understanding of how the range of conservation markets work, what investors need, what landowners can provide, and what changes in land management and business practices may need to be made.
In this vein, the governors of Montana, Idaho, and Wyoming should also task their relevant agencies with bringing conservation investment to their states in the same way they court investment in new mines, factories, and trade deals.
The dark floodwaters of extinction are rising. Unless we begin doing things differently, we will lose the migration routes, dispersal corridors, and important habitat found on the private lands we have neglected, and it will only be a matter of time before those waters drown the Greater Yellowstone Ecosystem.Second, landowners need to be educated by their allies to ensure they adequately understand these markets so they are not taken advantage of by unscrupulous operators. Conservation efforts can afford a limited number of bad experiences and any appearances of a looming land grab will only set back efforts.
Little known fact for most of Greater Yellowstone's human denizens: the black-footed ferret, the most endangered land mammal in America, was thought extinct, until a rancher's dog near Meeteetse, Wyoming (inside the Greater Yellowstone Ecosystem) brought a dead one back to the ranch house which led to the discovery that ferrets still were barely hanging on. It was a profound demonstration of how important habitat on private property is to conservation. Ferrets, which represent no threat to people or livestock, can only persist if there are thriving prairie dogs available for them to eat.
As I conclude these thoughts, news is breaking that the U.S. Fish and Wildlife Service is poised to announce the extinction of yet another species: the Maryland darter, a fish once common in the Susquehanna River and its tributaries. Its demise is largely a product of conservation not being a viable economic option, a business opportunity, for the watershed’s landowners.
The dark floodwaters of extinction are rising. Unless we begin doing things differently, we will lose the migration routes, dispersal corridors, and important habitat found on the private lands we have neglected, and it will only be a matter of time before those waters drown the Greater Yellowstone Ecosystem. Research is showing that our old ways of doing things are not enough. We still have time, and thankfully new tools from global finance, to change course. We should take advantage of both.
The dark floodwaters of extinction are rising. Unless we begin doing things differently, we will lose the migration routes, dispersal corridors, and important habitat found on the private lands we have neglected, and it will only be a matter of time before those waters drown the Greater Yellowstone Ecosystem. Research is showing that our old ways of doing things are not enough. We still have time, and thankfully new tools from global finance, to change course. We should take advantage of both.
POSTNOTE: For additional reading on the important role private ranchers and landowners are playing in conservation:
A Showdown Over Elk In Paradise? by Todd Wilkinson in Mountain Journal
Western Renaissance: When it comes to impact investing and bettering the Northern Rockies, can any firm match the impressive legacy of Bozeman's Beartooth Group? by Todd Wilkinson in The Land Report
Land On Fire: how private landowners are carrying out stewardship projects that protect communities in a time of escalating fire danger by Todd Wilkinson in On Land magazine, published by the Western Landowners Alliance