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A bibliometric and systemic literature review of biodiversity finance

Author

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  • Hutchinson, Mark C.
  • Lucey, Brian

Abstract

This study presents a short bibliometric analysis of biodiversity finance, exposing a literature fragmented across researchers, institutions, and journals. Six focal areas emerge, with Conservation, Conservation Finance, and Ecosystem Finance prominent. Thematic emphasis revolves around biodiversity challenges and the inefficiency of financial mechanisms in addressing them. Our analysis reveals an exploitable gap in the lack of finance-led solutions. We advocate for recognising finance’s pivotal role in tackling biodiversity challenges, emphasising capital access facilitation and risk mitigation. Collaborative efforts between finance and other disciplines are crucial for driving positive change in biodiversity conservation and restoration.

Suggested Citation

  • Hutchinson, Mark C. & Lucey, Brian, 2024. "A bibliometric and systemic literature review of biodiversity finance," Finance Research Letters, Elsevier, vol. 64(C).
    • Handle: RePEc:eee:finlet:v:64:y:2024:i:c:s1544612324004070
    DOI: 10.1016/j.frl.2024.105377
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    References listed on IDEAS

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    7. Flammer, Caroline & Giroux, Thomas & Heal, Geoffrey M., 2025. "Biodiversity finance," Journal of Financial Economics, Elsevier, vol. 164(C).
    8. Peter M. Clarkson & Michael B. Overell & Larelle Chapple, 2011. "Environmental Reporting and its Relation to Corporate Environmental Performance," Abacus, Accounting Foundation, University of Sydney, vol. 47(1), pages 27-60, March.
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    Citations

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    Cited by:

    1. Zhao, Yinghan & Qu, Xiaoyu & Lucey, Brian, 2025. "Managerial myopia and biodiversity alignment- evidence from China," International Review of Financial Analysis, Elsevier, vol. 100(C).
    2. Kanwal Iqbal Khan & Ayesha Shehzad, 2025. "Investing in Nature: A Bibliometric Analysis of Biodiversity Finance and Its Contribution to SDGs 14 and 15," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(4), pages 5436-5457, August.
    3. Beverdam, Jesper & Hubacek, Klaus & Scholtens, Bert & Sijtsma, Frans, 2025. "Improving biodiversity resilience requires both public and private finance: A life-cycle analysis of biodiversity finance," Ecological Economics, Elsevier, vol. 234(C).
    4. Tran, Thanh Tat & Hoang, Khanh & Ngo, Thanh & Nguyen, Thang Xuan & Tran, Hien Thi Thu, 2025. "How does biodiversity risk exposure affect corporate regulatory intensity?," Finance Research Letters, Elsevier, vol. 86(PB).
    5. Di Tommaso, Caterina & Foglia, Matteo & Pacelli, Vincenzo, 2025. "The impact of biodiversity score on the European firm’s performance," International Review of Financial Analysis, Elsevier, vol. 106(C).
    6. Gao, Zhiyuan & Zhao, Ying & Li, Lianqing & Hao, Yu, 2025. "Nurturing nature: The role of green finance in reviving urban biodiversity," The Quarterly Review of Economics and Finance, Elsevier, vol. 102(C).
    7. Ma, Feng & Wu, Hanlin & Zeng, Qing, 2024. "Biodiversity and stock returns," International Review of Financial Analysis, Elsevier, vol. 95(PA).
    8. Clarisse Heck Machado & Miguel Sousa & Manuel Castelo Branco, 2025. "Sustainability-Linked Bonds Research: A Bibliometric and Content Analysis Review," IJFS, MDPI, vol. 13(2), pages 1-22, April.
    9. Chen, Guorong & Xing, Xiaoyun & Deng, Jing, 2025. "Climate–biodiversity–finance nexus: Comparative evidence from the U.S. and China," Finance Research Letters, Elsevier, vol. 86(PA).
    10. Pandey, Dharen Kumar, 2025. "FinTech literature reviews: A hybrid approach," Finance Research Letters, Elsevier, vol. 79(C).
    11. Carè, R. & Fatima, R. & Cerciello, M. & Taddeo, S., 2025. "Exploring the landscape of green crowdfunding: Trends, themes, and insights from a bibliometric review," Finance Research Letters, Elsevier, vol. 77(C).
    12. Curi, Claudia & Mancuso, Paolo & Scarpa, Alessandro, 2025. "State-owned enterprises: A bibliometric review and research agenda," Finance Research Letters, Elsevier, vol. 74(C).
    13. Wang, Yueyang, 2025. "The silent cost of biodiversity loss: Unveiling its impact on institutional ownership," International Review of Financial Analysis, Elsevier, vol. 103(C).
    14. Thang Ngoc Dang & Monomita Nandy & Suman Lodh & Khaled Hussainey, 2026. "Nature at Risk, Finance at Stake: A Systematic Literature Review of Biodiversity Risk in Finance Research," Business Strategy and the Environment, Wiley Blackwell, vol. 35(3), pages 4256-4276, March.
    15. Yu, Jingjing & Liang, Yanhong & Wang, Kang, 2025. "Ecological service value and the development of green finance: The grouping effect of environmental penalty intensity," Finance Research Letters, Elsevier, vol. 86(PB).
    16. Zhou, Chengchen & Chen, Yajie & Ji, Qiang & Zhang, Dayong, 2025. "Does public attention to biodiversity matter to stock markets?," International Review of Financial Analysis, Elsevier, vol. 98(C).
    17. Stolbov, Mikhail & Shchepeleva, Maria & Parfenov, Daniil, 2025. "What is the relationship between biodiversity and the frequency of financial crises? Global evidence," Economics Letters, Elsevier, vol. 250(C).
    18. Almaghrabi, Khadija S. & Ben-Amar, Walid & Kong, Ziyu, 2025. "Biodiversity risk and firms’ access to trade credit," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 105(C).
    19. Jérôme, Tiphaine & Poretti, Cédric, 2025. "Stock market reaction to the voluntary adoption of nature-related financial disclosure: An event study," Finance Research Letters, Elsevier, vol. 71(C).

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    JEL classification:

    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General

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