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Management of rangelands for animal products can reduce, maintain or even increase biodiversity. Loss of biodiversity of plants and animals can lead to decreased productivity and income generation from rangelands or can exacerbate the effects of climatic variability and concomitant increased risks for subsistence and commercial land users. This session will comprise two parts. In the first part, invited researchers from four continents will present overviews and case histories that explore (sometimes contradictory) effects of management (e.g. intensive and extensive livestock grazing systems, game and livestock mixes, burning, water manipulation) on plant and animal diversity at a variety of trophic levels. The second part of the session will examine the value of diversity in rangeland economies and will explore a variety of incentives and other policy tools appropriate for encouraging biodiversity conservation under private and communal tenure systems, and in land managed to meet commercial and subsistence objectives.