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International audience; In 2013, the Group on Earth Observations Biodiversity Observation Network (GEO BON) developed the framework of Essential Biodiversity Variables (EBVs), inspired by the Essential Climate Variables (ECVs). The EBV framework was developed to distill the complexity of biodiversity into a manageable list of priorities and to bring a more coordinated approach to observing biodiversity on a global scale. However, efforts to address the scientific challenges associated with this task have been hindered by diverse interpretations of the definition of an EBV. Here, the authors define an EBV as a critical biological variable that characterizes an aspect of biodiversity, functioning as the interface between raw data and indicators. This relationship is clarified through a multi-faceted stock market analogy, drawing from relevant examples of biodiversity indicators that use EBVs, such as the Living Planet Index and the UK Spring Index. Through this analogy, the authors seek to make the EBV concept accessible to a wider audience, especially to non-specialists and those in the policy sector, and to more clearly define the roles of EBVs and their relationship with biodiversity indicators. From this we expect to support advancement towards globally coordinated measurements of biodiversity.

Although satellite‐based variables have for long been expected to be key components to a unified and global biodiversity monitoring strategy, a definitive and agreed list of these variables still remains elusive. The growth of interest in biodiversity variables observable from space has been partly underpinned by the development of the essential biodiversity variable (EBV) framework by the Group on Earth Observations – Biodiversity Observation Network, which itself was guided by the process of identifying essential climate variables. This contribution aims to advance the development of a global biodiversity monitoring strategy by updating the previously published definition of EBV, providing a definition of satellite remote sensing (SRS) EBVs and introducing a set of principles that are believed to be necessary if ecologists and space agencies are to agree on a list of EBVs that can be routinely monitored from space. Progress toward the identification of SRS‐EBVs will require a clear understanding of what makes a biodiversity variable essential, as well as agreement on who the users of the SRS‐EBVs are. Technological and algorithmic developments are rapidly expanding the set of opportunities for SRS in monitoring biodiversity, and so the list of SRS‐EBVs is likely to evolve over time. This means that a clear and common platform for data providers, ecologists, environmental managers, policy makers and remote sensing experts to interact and share ideas needs to be identified to support long‐term coordinated actions., DSS, RS, DR and JP were financed by the EU BON project that is a Seventh Framework Programme funded by the European Union under Contract No. 308454.