Biodiversity investment priorities are a major concern for funding agencies and parties to the Convention on Biodiversity. We present an index to rank global investments which builds on previous methods by including cost-effectiveness criteria and considering the nature of threat and success in relation to priority nations. The cost-effective priority investment index (CEPII) is used to determine regional rankings for countries in the Asia-Pacific region, Sub-Saharan Africa and Central and South America and the Caribbean. Data limitations necessitate caution in the interpretation of priorities which, like other methods, are defined by subjective choice of success and threat surrogates. The index does, however, appear to have merit as a policy tool.