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Shifting cultivation is a predominant land use across the tropics, feeding hundreds of millions of marginalised people, causing significant deforestation, and encompassing a combined area of land ten-fold greater than that used for oil palm and rubber. A key question is whether carbon-based payment for ecosystem services (PES) schemes can cost-effectively bring novel restoration and carbon-sensitive management practices to shifting agriculture. Using economic models that uniquely consider the substantial area of fallow land needed to support a single cultivated plot, we calculated the break-even carbon prices required for PES to match the opportunity cost of intervention in shifting agriculture. We do so in the North-east Indian biodiversity hotspot, where 35.4% of land is managed under shifting agriculture. We found net revenues of US$829.53-2581.95 per 30 ha when fallow area is included, which are an order of magnitude lower than previous estimates. Abandoning shifting agriculture entirely is highly feasible with break-even prices as low as US$1.33 t −1 CO 2 , but may conflict with food security. The oldest fallow plots could be fully restored for US$0.89 t −1 CO 2 and the expansion of shifting agriculture into primary forest halted for US$0.51 t −1 CO 2 , whereas abandoning short-fallow systems would cost US$12.60 t −1 CO 2 . A precautionary reanalysis accounting for extreme economic uncertainty and leakage costs suggests that all interventions, excluding abandoning short-fallow systems, remain economically viable with prices less than US$4.00 t −1 CO 2 . Even with poorly formed voluntary carbon markets, shifting agriculture represents a critical opportunity for low-cost forest restoration whilst diversifying income streams of marginalised communities across a vast area.

Wildlife trade is a key driver of extinction risk, affecting at least 24% of terrestrial vertebrates. The persistent removal of species can have profound impacts on species extinction risk and selection within populations. We draw together the first review of characteristics known to drive species useidentifying species with larger body sizes, greater abundance, increased rarity or certain morphological traits valued by consumers as being particularly prevalent in trade. We then review the ecological implications of this trade-driven selection, revealing direct effects of trade on natural selection and populations for traded species, which includes selection against desirable traits. Additionally, there exists a positive feedback loop between rarity and trade and depleted populations tend to have easy human access points, which can result in species being harvested to extinction and has the potential to alter source-sink dynamics. Wider cascading ecosystem repercussions from trade-induced declines include altered seed dispersal networks, trophic cascades, long-term compositional changes in plant communities, altered forest carbon stocks, and the introduction of harmful invasive species. Because it occurs across multiple scales with diverse drivers, wildlife trade requires multi-faceted conservation actions to maintain biodiversity and ecological function, including regulatory and enforcement approaches, bottom-up and community-based interventions, captive breeding or wildlife farming, and conservation translocations and trophic rewilding. We highlight three emergent research themes at the intersection of trade and community ecology: (1) functional impacts of trade; (2) altered provisioning of ecosystem services; and (3) prevalence of trade-dispersed diseases. Outside of the primary objective that exploitation is sustainable for traded species, we must urgently incorporate consideration of the broader consequences for other species and ecosystem processes when quantifying sustainability.

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Wildlife trade is a multibillion-dollar industry1 targeting a hyperdiversity of species2 and can contribute to major declines in abundance3. A key question is understanding the global hotspots of wildlife trade for phylogenetic (PD) and functional (FD) diversity, which underpin the conservation of evolutionary history4, ecological functions5 and ecosystem services benefiting humankind6. Using a global dataset of traded bird and mammal species, we identify that the highest levels of traded PD and FD are from tropical regions, where high numbers of evolutionary distinct and globally endangered species in trade occur. The standardized effect size (ses) of traded PD and FD also shows strong tropical epicentres, with additional hotspots of mammalian ses.PD in the eastern United States and ses.FD in Europe. Large-bodied, frugivorous and canopy-dwelling birds and large-bodied mammals are more likely to be traded whereas insectivorous birds and diurnally foraging mammals are less likely. Where trade drives localized extinctions3, our results suggest substantial losses of unique evolutionary lineages and functional traits, with possible cascading effects for communities and ecosystems5,7. Avoiding unsustainable exploitation and lost community integrity requires targeted conservation efforts, especially in hotspots of traded phylogenetic and functional diversity.