1st Edition

Extinction Governance, Finance and Accounting Implementing a Species Protection Action Plan for the Financial Markets

Edited By Jill Atkins, Martina Macpherson Copyright 2022
    610 Pages 79 B/W Illustrations
    by Routledge

    610 Pages 79 B/W Illustrations
    by Routledge

    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.

    Introduction: Why Are Species Extinction and Biodiversity Collapse Relevant to the Financial Markets, Accounting and Governance?

    Jill Atkins and Martina Macpherson

    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

    Jill Atkins and Martina Macpherson

    2 Extinction Governance: Establishing a Framework for Extinction Accounting, Accountability and Finance

    Mervyn E. King, Jill Atkins and Warren Maroun

    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

    Mxolisi Sibanda

    4 Business for Nature: How Businesses Can Save Species and Preserve Biodiversity

    Eva Zabey and Carmen Thissen

    5 Heal Rewilding: A Landowning Model for Species Recovery

    Jan Stannard, Hannah Needham and Shân M. Millie

    6 Oil Palm Industry and Biodiversity Loss: Enhancing Governance through the Sustainability Policy Transparency Toolkit (SPOTT)

    Gunnar Rimmel and Maizatulakma Abdullah

    7 Cultural and Religious Aspects of Extinction Governance in the Middle East: Accounting for Camels in the Israeli Context

    Mira Lieberman

    8 Middle Eastern Extinctions: Building a Religious Motivation for Species Protection

    Tariq Almontaser, Jill Atkins, Ali Elfadli, Abdullah Eskandrany, Aber Hassan, Omar Mowafi, Simon Norton and Mohamed Saeudy

    9 The Need for Good Governance in Securing Environmental Justice

    Steve Trent

    10 A Regenerative Approach to Biodiversity and Species Extinction Accounting

    Peta Milan

    Part III Extinction Finance: How Financial Market Mechanisms Can Save Species

    11 ‘Extinction Bonds’ Addressing Biodiversity Issues through Sustainable Finance

    Martina Macpherson and Christoph Biehl

    12 From Active to Passive: Establishing a Framework for a Biodiversity Index Solution

    Erica Zanella and Thomas Montagnon

    13 Biodiversity and Sustainability Ratings: From Data to Assessments

    Anna Zubets-Anderson and Marie Lehmann

    14 Assessing Financial Exposure to Biodiversity Risks through Corporate Facility Mapping

    Léonie Chatain, Nathalie Borgeaud and Natalie Ambrosio Preudhomme

    15 How to Improve Biodiversity-Related Information

    Andrea Gasperini and Sonia Artuso

    16 Green Bonds from an Integrated Thinking Perspective

    Wayne van Zijl, Dannielle Cerbone and Warren Maroun

    17 The Wildlife Conservation Bond: Exploring New Market Mechanisms for Protecting Endangered Species

    Nnamdi Okolo

    18 Exploring a Mechanism with Emancipatory Potential for ‘Business and Biodiversity’ in China: ‘Ant Forest’

    Longxiang Zhao

    19 The Investors’ Policy Dialogue on Deforestation (IPDD) Case Study: A Collaborative Engagement Initiative with Governments to Mitigate Investment Impacts Resulting from Deforestation

    My-Linh Ngo, Magdalena Kettis, Emine Isciel and Daniela Carreira

    20 Ending Extinction: Taking Action to Transform the Financial System

    Nick Robins

    21 Extinction Accounting and Finance in Italy: The Case of Fineco Bank

    Federica Doni, Silvio Bianchi Martini and Antonio Corvino

    Part IV Extinction Engagement: How Investors Can Save Species

    22 The Global Asset Management Industry’s Response to the Biodiversity Crisis

    Krystyna Springer

    23 Engaging to Protect and Restore Biodiversity

    Sonya Likhtman

    24 Biodiversity Loss and Its Impact: A Practical Implementation in Portfolio Construction

    Clarisse Simonek and Carmine de Franco

    25 Addressing the Ecological Transition through Environmental, Social and Governance Investing Powered by Artificial Intelligence and Fintech

    Nicolas Jacob

    26 Revealing Plato’s ‘Shadow Kingdom’: Rendering Pandemic Risk Explicit in Extinction Engagement

    Jill Atkins, Federica Doni, Abeer Hassan and Warren Maroun

    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

    Mark Gough

    28 The Biodiversity Disclosure Project: From Business Mainstreaming Guidelines, the Biodiversity Performance Rating of Listed Companies to the Biological Diversity Protocol

    Y. Friedman, C. Hoogstad, A. Cherrington, H.T. Davies-Mostert, M. Murison and J. Houdet

    29 Research Methods: The Role of Ecolinguistic Analysis in Species Protection – A Toolkit for Practitioners and Academics

    Mira Lieberman

    Part VI Reflections and Conclusion: Establishing a Framework for Action

    30 Extinction, Biodiversity Loss and COVID-19: Searching for Meaning

    Barry Atkins

    31 Hope for the Future: A CREATIIIVE Approach to Extinction Governance, Accounting and Finance

    Jill Atkins and Martina Macpherson


    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.