Banking on ecosystem services
Bibliographic Data
| ID | 12184699 |
|---|---|
| Authors | Luis Mundaca (0000-0002-1090-7744, Lund University, corresponding author), Jan-Niklas Heintze (Lund University) |
| Year | 2024 |
| Volume | 224 |
| Pages | 108284-108284 |
| Publication date | 2024-06-29 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Ecological Economics (JOURNAL) |
| Journal identifiers | ISSN: 0921-8009 • E-ISSN: 1873-6106 |
| Publisher | Elsevier BV (PUBLISHER) |
| DOI | 10.1016/j.ecolecon.2024.108284 |
| OpenAlex | W4400145546 |
| Language | EN |
| Citations received | 3 |
| References cited | 26 |
The COP 15 of the UN Convention on Biological Diversity emphasised the need to monitor, evaluate, and disclose the risks and dependencies of financial institutions on biodiversity. In the light of this context, our paper focuses specifically on banks and is framed by the following overarching question: to what extent have banks identified, integrated, measured, and disclosed their dependency and exposure to ecosystem services (ES)? The literature on finance and biodiversity provides various arguments highlighting the urgency and significance of understanding and disclosing banks' ES risk exposure. Despite numerous public and/or private initiatives, banks have been slow to evaluate and integrate their dependency on ES, and related risks, into their operations and performance. Using data from the ten largest European banks, we estimate that for every dollar of equity holding, 26 cents are potentially exposed to high ES dependencies. This figure should be regarded as a lower estimate of the total banks' exposure to ES dependency. To make progress, we argue that banks must become champions of ES to ensure their own resilience and financial sustainability. Governance plays a key role, and we suggest several measures to accelerate this transition
Biodiversity · Business · Context (archaeology · Convention on Biological Diversity · Corporate governance · Dependency (UML · Economics · Ecosystem · Ecosystem services · Environmental resource management · Equity (law · Financial services · Liberian dollar · Political science · Resilience (materials science · Sustainability · Conservation, Biodiversity, and Resource Management · Environmental Conservation and Management · Land Use and Ecosystem Services · Ecology · Finance
High-resolution mapping of global surface water and its long-term changes
An assessment of the global impact of 21st century land use change on soil erosion
The value of the world's ecosystem services and natural capital
Sustainable banking
What are the banks doing in managing climate risk? Empirical evidence from a position map
From natural capital accounting to natural capital banking
Challenges in framing the economics of ecosystems and biodiversity
Changes in the global value of ecosystem services
Central bank mandates, sustainability objectives and the promotion of green finance
| Unique citing works | 3 |
|---|---|
| Citations per year | 3 |
| Citation span | 2025 - 2026 (2) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 3 |