Biodiversity disclosure in the European finance sector

IF 6.6 2区经济学 Q1 ECOLOGY

Ecological Economics Pub Date : 2024-11-09 DOI:10.1016/j.ecolecon.2024.108430

Leyla Azizi , Christoph Scope , Anne Ladusch , Remmer Sassen

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引用次数: 0

Abstract

As the significant environmental, social, and economic consequences of biodiversity loss become more clearly recognized, biodiversity management has become an increasingly important issue for the financial sector. According to the Global Risk Report 2023, biodiversity loss will be the fourth most significant risk worldwide over the next ten years. The financial sector plays a crucial role in supporting and financing business activities that impact biodiversity. Financial institutions can help ensure that biodiversity is protected as they strongly influence management activities and practices in the economy through capital allocation.

Based on institutional theory, this study aims to illuminate a disclosure level on biodiversity (risks) in the financial sector. Using content analysis, we empirically investigate non-financial reports by the European financial industry. To evaluate drivers, we present and compare specific disclosure standards and regulations concerning biodiversity. Overall, the disclosure quality differs in scope and level across the sampled companies. The results show the relevance of evolving disclosure frameworks like the EU taxonomy, Sustainable Finance Disclosure Regulation, and Corporate Sustainability Reporting Directive. This study contributes to improving biodiversity management and disclosure by presenting a better understanding of biodiversity activities and risks within the financial sector as a mediating agent.

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欧洲金融业的生物多样性披露

随着人们越来越清楚地认识到生物多样性丧失对环境、社会和经济造成的重大影响，生物多样性管理已成为金融部门一个日益重要的问题。根据《2023 年全球风险报告》，生物多样性丧失将成为未来十年全球第四大风险。金融部门在支持和资助影响生物多样性的商业活动方面发挥着至关重要的作用。金融机构可以帮助确保生物多样性得到保护，因为它们通过资本分配对经济中的管理活动和实践产生重大影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Ecological Economics 环境科学-环境科学

CiteScore

12.00

自引率

5.70%

发文量

313

审稿时长

6 months

期刊介绍： Ecological Economics is concerned with extending and integrating the understanding of the interfaces and interplay between "nature''s household" (ecosystems) and "humanity''s household" (the economy). Ecological economics is an interdisciplinary field defined by a set of concrete problems or challenges related to governing economic activity in a way that promotes human well-being, sustainability, and justice. The journal thus emphasizes critical work that draws on and integrates elements of ecological science, economics, and the analysis of values, behaviors, cultural practices, institutional structures, and societal dynamics. The journal is transdisciplinary in spirit and methodologically open, drawing on the insights offered by a variety of intellectual traditions, and appealing to a diverse readership. Specific research areas covered include: valuation of natural resources, sustainable agriculture and development, ecologically integrated technology, integrated ecologic-economic modelling at scales from local to regional to global, implications of thermodynamics for economics and ecology, renewable resource management and conservation, critical assessments of the basic assumptions underlying current economic and ecological paradigms and the implications of alternative assumptions, economic and ecological consequences of genetically engineered organisms, and gene pool inventory and management, alternative principles for valuing natural wealth, integrating natural resources and environmental services into national income and wealth accounts, methods of implementing efficient environmental policies, case studies of economic-ecologic conflict or harmony, etc. New issues in this area are rapidly emerging and will find a ready forum in Ecological Economics.