An initial genetic analysis of the pink subpopulation indicated that this particular species diverged from a common ancestor with C. subcristatus and C. pallidus some 5.7 million years past.

[1] Individuals of the species first came into the public light in 1986 when park rangers spotted some pink lizards on the Wolf Volcano on Isabela Island, but a more thorough study by scientists only began in 2000.

[7] This volcano encompasses the entire distribution of the species and the range covers only 25 km2 (10 sq mi), at altitudes between 600 and 1,700 m (2,000–5,600 ft).

[2] When first described, it was suggested that it should be considered a critically endangered species due to its tiny range and population,[7] and this recommendation was followed when the IUCN reviewed its status in 2012.

[2] The Galápagos pink land iguana is threatened by introduced feral cats and black rats, which can take eggs and young.

[2] Other threats are possible hybridization with Galápagos land iguanas (unknown at present, but has occurred based on genetic evidence), as the ranges of the two species come into contact, and chance events such as eruptions of Wolf Volcano,[2] which has happened as recently as 2022.