Biodiversity Finance: A Literature Survey of an Emerging Field
Document Type
Research-Article
Journal Name
Journal of Economic Surveys
Keywords
biodiversity finance, conservation finance, risk measurement, sustainable development
Abstract
Biodiversity finance has emerged as a critical interdisciplinary field that mobilizes and deploys financial resources to address the accelerating loss of biological diversity and the resulting economic risks. This review explores the foundational theories related to biodiversity finance and synthesizes empirical findings in several related fields: (1) biodiversity risks across equity, debt, and banking sectors; (2) the effectiveness and scalability of private, public, and philanthropic capital structures; (3) advances in data measurement and disclosure practices; and (4) the behavioral responses to biodiversity risk from both investors and corporations. Accordingly, we propose future research agendas based on the contemporary research progress. By consolidating current insights and identifying critical gaps, this review aims to guide studies in advancing biodiversity finance to secure both ecological integrity and long-term economic stability. © 2025 John Wiley & Sons Ltd.