Extinction Governance, Finance and Accounting
Implementing a Species Protection Action Plan for the Financial Markets
The planet is currently experiencing a mass extinction event, with human and business activity being the root cause of species loss and habitat destruction. Industries, companies, banks, investors, accountants and auditors have all played their role. This book explores how they can also provide a solution.
The book presents plans, metrics, frameworks, mechanisms and financial innovations that can be, and are being, implemented through the financial markets in order to save and protect species, enhance biodiversity and, at the same time, preserve the financial markets and the business world.
This biodiversity handbook addresses the intersection between species extinction and the global capitalist system. With contributions from leading non-governmental organisations such as the Capitals Coalition, Business for Nature, the Ecojustice Foundation, ShareAction and the Endangered Wildlife Trust, plus senior researchers in the field, as well as industry experts from Moody’s, EOS at Hermes Federated Investment Management, BlueBay Asset Management, ODDO BHF Asset Management and OSSIAM (to mention just a few), this book is at the forefront of addressing the crucially important topics of extinction accounting, finance and governance.
Drawing on leading research, the book is written in an accessible style and is relevant to researchers and students in the fields of sustainability, governance, accounting, finance, corporate social responsibility and corporate governance. It is essential reading for investors, responsible investors, bankers, business leaders and policy makers in the field of sustainable financial markets. Given the interdisciplinary nature of this book, it is useful to conservationists, ecologists and others involved in species and biodiversity protection.
Table of Contents
Introduction: Why Are Species Extinction and Biodiversity Collapse Relevant to the Financial Markets, Accounting and Governance?; Part I Defining Extinction Governance, Extinction Accounting and Extinction Finance 1 Extinction Accounting, Finance and Engagement: Implementing a Species Protection Action Plan for the Financial Markets; 2 Extinction Governance: Establishing a Framework for Extinction Accounting, Accountability and Finance; Part II The Urgent State of Nature: Addressing Extinction and Biodiversity Decline 3 Business, Extinction and the Future of Species: Moving from Good Intention to Action against Species Extinction; 4 Business for Nature: How Businesses Can Save Species and Preserve Biodiversity; 5 Heal Rewilding: A Landowning Model for Species Recovery; 6 Oil Palm Industry and Biodiversity Loss: Enhancing Governance through the Sustainability Policy Transparency Toolkit (SPOTT); 7 Cultural and Religious Aspects of Extinction Governance in the Middle East: Accounting for Camels in the Israeli Context; 8 Middle Eastern Extinctions: Building a Religious Motivation for Species Protection; 9 The Need for Good Governance in Securing Environmental Justice; 10 A Regenerative Approach to Biodiversity and Species Extinction Accounting; Part III Extinction Finance: How Financial Market Mechanisms Can Save Species 11 ‘Extinction Bonds’ Addressing Biodiversity Issues through Sustainable Finance; 12 From Active to Passive: Establishing a Framework for a Biodiversity Index Solution; 13 Biodiversity and Sustainability Ratings: From Data to Assessments; 14 Assessing Financial Exposure to Biodiversity Risks through Corporate Facility Mapping; 15 How to Improve Biodiversity-Related Information; 16 Green Bonds from an Integrated Thinking Perspective; 17 The Wildlife Conservation Bond: Exploring New Market Mechanisms for Protecting Endangered Species; 18 Exploring a Mechanism with Emancipatory Potential for ‘Business and Biodiversity’ in China: ‘Ant Forest’; 19 The Investors’ Policy Dialogue on Deforestation (IPDD) Case Study: A Collaborative Engagement Initiative with Governments to Mitigate Investment Impacts Resulting from Deforestation; 20 Ending Extinction: Taking Action to Transform the Financial System; 21 Extinction Accounting and Finance in Italy: The Case of Fineco Bank; Part IV Extinction Engagement: How Investors Can Save Species 22 The Global Asset Management Industry’s Response to the Biodiversity Crisis; 23 Engaging to Protect and Restore Biodiversity; 24 Biodiversity Loss and Its Impact: A Practical Implementation in Portfolio Construction; 25 Addressing the Ecological Transition through Environmental, Social and Governance Investing Powered by Artificial Intelligence and Fintech; 26 Revealing Plato’s ‘Shadow Kingdom’: Rendering Pandemic Risk Explicit in Extinction Engagement; Part V Extinction Accounting: How Accounting Can Save Species 27 The Impact of the Natural Capital and Biodiversity Crises on the Corporate and Investment Value Chain; 28 The Biodiversity Disclosure Project: From Business Mainstreaming Guidelines, the Biodiversity Performance Rating of Listed Companies to the Biological Diversity Protocol; 29 Research Methods: The Role of Ecolinguistic Analysis in Species Protection – A Toolkit for Practitioners and Academics; Part VI Reflections and Conclusion: Establishing a Framework for Action 30 Extinction, Biodiversity Loss and COVID-19: Searching for Meaning; 31 Hope for the Future: A CREATIIIVE Approach to Extinction Governance, Accounting and Finance
Jill Atkins holds a Chair in Financial Management at Sheffield University Management School, UK, and is a visiting professor of Accounting at the University of the Witwatersrand, South Africa.
Martina Macpherson is Head of ESG Strategy and GMC Member at ODDO BHF Asset Management, President of NSFM NextGen and Visiting Fellow at Henley Business School, UK.