Biodiversity provides the fundamental underpinning for ecosystem functioning - such as biomass production, litter decomposition, pest control, and pollination – along with the resulting ecosystem services that provide benefits to society, such as timber, climate regulation, recreation and wildlife conservation. This report considers how the value of biodiversity can be accounted for in economic analyses that support forest management and policy decisions. It reviews the role of biodiversity values in forestry policy and management decisions and provides recommendations for addressing evidence gaps.