{"title":"Biodiversity finance: Sovereign biodiversity loss drivers and financial stability","authors":"Michael Mies","doi":"10.1111/jiec.70017","DOIUrl":null,"url":null,"abstract":"<p>This study analyzed the impact of sovereign biodiversity risk drivers on financial stability. Using a global dataset covering 2004–2021, I found empirical evidence that the biodiversity risks land use, drought, and freshwater stocks significantly affect the systemic risk measures SRISK and systemic expected shortfall (SES). This study also found empirical evidence that including non-financial risks in banks' risk assessments is beneficial for financial stability because lending makes borrowers more aware of sustainability. By providing empirical findings on the influence of country-specific biodiversity risk drivers on market-based systemic risk measures, this study provides suggestions for a stronger consideration of biodiversity risks in the risk management of banks by regulators and central banks.</p>","PeriodicalId":16050,"journal":{"name":"Journal of Industrial Ecology","volume":"29 3","pages":"937-954"},"PeriodicalIF":4.9000,"publicationDate":"2025-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jiec.70017","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Industrial Ecology","FirstCategoryId":"93","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1111/jiec.70017","RegionNum":3,"RegionCategory":"环境科学与生态学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ENGINEERING, ENVIRONMENTAL","Score":null,"Total":0}
引用次数: 0
Abstract
This study analyzed the impact of sovereign biodiversity risk drivers on financial stability. Using a global dataset covering 2004–2021, I found empirical evidence that the biodiversity risks land use, drought, and freshwater stocks significantly affect the systemic risk measures SRISK and systemic expected shortfall (SES). This study also found empirical evidence that including non-financial risks in banks' risk assessments is beneficial for financial stability because lending makes borrowers more aware of sustainability. By providing empirical findings on the influence of country-specific biodiversity risk drivers on market-based systemic risk measures, this study provides suggestions for a stronger consideration of biodiversity risks in the risk management of banks by regulators and central banks.
期刊介绍：
The Journal of Industrial Ecology addresses a series of related topics:
material and energy flows studies (''industrial metabolism'')
technological change
dematerialization and decarbonization
life cycle planning, design and assessment
design for the environment
extended producer responsibility (''product stewardship'')
eco-industrial parks (''industrial symbiosis'')
product-oriented environmental policy
eco-efficiency
Journal of Industrial Ecology is open to and encourages submissions that are interdisciplinary in approach. In addition to more formal academic papers, the journal seeks to provide a forum for continuing exchange of information and opinions through contributions from scholars, environmental managers, policymakers, advocates and others involved in environmental science, management and policy.
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