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Contributions of the private sector to global biodiversity protection: case study of the fortune 500 companies

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  • Bhattacharya, Tania Ray
  • Managi, Shunsuke

Abstract

This paper assesses the current activities of U.S. Fortune 500 companies with respect to global biodiversity protection and the goals of the Convention of Biological Diversity (CBD). Data and information collected from five hundred companies within eight major industrial sectors was further categorized at the company level to assess each company’s involvement in global biodiversity protection. Our findings show that although companies’ business profiles highly influence their decision-making process regarding the adoption of biodiversity protection policies and measures, their revenue profiles are less influential. We show that despite generating low revenues, companies in the utility sector are more active in the adoption of biodiversity protection policy than are those in the financial sector, which generates high revenues. This study also demonstrates that companies must be convinced of the major effects of biodiversity loss on their bottom lines to be motivated to protect biological diversity. Companies’ business and business related risk profiles can also influence the adoption of biodiversity protection policies within the company. The study further demonstrates that a measurable biodiversity impact indicator is necessary for the companies to get seriously involved in the mitigation action. Finally this study proposes a three step biodiversity loss mitigation action framework which is drawn upon the assessment of the 500 companies which can contribute to develop an elaborative framework of business sector specific mitigation plan.

Suggested Citation

  • Bhattacharya, Tania Ray & Managi, Shunsuke, 2012. "Contributions of the private sector to global biodiversity protection: case study of the fortune 500 companies," MPRA Paper 39949, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:39949
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    File URL: https://mpra.ub.uni-muenchen.de/39949/2/MPRA_paper_39949.pdf
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    References listed on IDEAS

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    1. Levrel, Harold & Fontaine, Benoît & Henry, Pierre-Yves & Jiguet, Frédéric & Julliard, Romain & Kerbiriou, Christian & Couvet, Denis, 2010. "Balancing state and volunteer investment in biodiversity monitoring for the implementation of CBD indicators: A French example," Ecological Economics, Elsevier, vol. 69(7), pages 1580-1586, May.
    2. Cristina Ciocirlan & Caroline Pettersson, 2012. "Does Workforce Diversity Matter in the Fight against Climate Change? An Analysis of Fortune 500 Companies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 19(1), pages 47-62, January.
    3. S. Jaseem Ahmad, Nicholas O'Regan, Abby Ghobadian, 2003. "Managing for performance: corporate responsibility and internal stakeholders," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 5(2/3), pages 141-153.
    4. Jennifer Dyke & Sean B. Cash & Samuel D. Brody & Sara Thornton, 2005. "Examining the role of the forest industry in collaborative ecosystem management: implications for corporate strategy," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 12(1), pages 10-18, March.
    5. Rondinelli, Dennis A. & Berry, Michael A., 2000. "Environmental citizenship in multinational corporations: social responsibility and sustainable development," European Management Journal, Elsevier, vol. 18(1), pages 70-84, February.
    6. Harold Levrel & Benoit Fontaine & Pierre-Yves Henry & Frédéric Jiguet & Romain Julliard & Christian Kerbiriou & Denis Couvet, 2010. "Balancing state and volunteer investment in biodiversity monitoring for the implementation of CBD indicators: A French example," Post-Print hal-00511660, HAL.
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    Cited by:

    1. Benjamin S. Thompson, 2021. "Corporate Payments for Ecosystem Services in Theory and Practice: Links to Economics, Business, and Sustainability," Sustainability, MDPI, vol. 13(15), pages 1-18, July.
    2. E.O. Marfo & L. Chen & H. Xuhua & H.A. Antwi & E. Yiranbon, 2015. "Corporate Social Responsibility: Driving Dynamics on Firm’s Profitability in Ghana," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 5(3), pages 116-132, July.
    3. Bhattacharya, Tania & Bhattacharya, Anindya, 2019. "Financing biodiversity action plan using state appropriation account analysis: A case study of an Indian state," Ecosystem Services, Elsevier, vol. 39(C).

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    More about this item

    Keywords

    Biodiversity; business sector; Fortune 500 companies; business risk; revenue;
    All these keywords.

    JEL classification:

    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • H00 - Public Economics - - General - - - General

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