- Title
- From impacts to dependencies : a first global assessment of corporate biodiversity risk exposure and responses
- Creator
- Carvalho, Sergio; Cojoianu, Theodor; Ascui, Francisco
- Date
- 2023
- Type
- Text; Journal article
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/194056
- Identifier
- vital:18294
- Identifier
-
https://doi.org/10.1002/bse.3142
- Identifier
- ISSN:0964-4733 (ISSN)
- Abstract
- There is growing awareness that biodiversity loss poses a significant risk to the global economy, but a lack of clarity on what this means for corporations, and how they are responding. This study provides a first quantitative assessment of biodiversity risk exposure across the world's largest listed companies, compared with their adoption of biodiversity policies, through analysis of disclosures from a sample of 11,812 companies from 2004 to 2018. We find that companies have started responding strategically to biodiversity risk, with 29% having adopted a biodiversity policy by 2018. However, around $7.2 trillion of total enterprise value remains exposed to unmanaged biodiversity risk. Companies in sectors with material impacts on biodiversity tend to have high levels of response, but there is poorer responsiveness to material biodiversity dependency risks. A natural-capital-based view (NCBV) of the firm is proposed to theorise how corporations are constrained by both their impacts and dependencies on natural capital. © 2022 The Authors. Business Strategy and The Environment published by ERP Environment and John Wiley & Sons Ltd.
- Publisher
- John Wiley and Sons Ltd
- Relation
- Business Strategy and the Environment Vol. 32, no. 5 (2023), p. 2600-2614
- Rights
- All metadata describing materials held in, or linked to, the repository is freely available under a CC0 licence
- Rights
- https://creativecommons.org/licenses/by/4.0/
- Rights
- Copyright @ 2022 The Authors
- Rights
- Open Access
- Subject
- 3501 Accounting, auditing and accountability; 3502 Banking, finance and investment; 3507 Strategy, management and organisational behaviourBiodiversity; Dependencies; Impacts; Materiality; Natural capital; Risk
- Full Text
- Reviewed
- Funder
- We acknowledge that this work has been supported by the Irish Research Council and the EU Horizon 2020 Marie Sklodowska‐Curie grant agreement no. 713279 (CLNE/2018/202).
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