Developing a Species Protection Action Plan – An Integrated Approach for Taxonomies, Reporting and Engagement for the Financial Services Sector
15 Pages Posted: 14 Jun 2019
Date Written: May 29, 2019
The planet is currently experiencing a mass extinction event, with human and business activity being the root cause of species loss and habitat destruction. Recent scientific research finds that from a sample of almost half vertebrate species, 32% are decreasing in population size and range as a result of habitat loss, over-exploitation, invasion by alien species, pollution and global warming. As well as species ‘going extinct’ populations of species are diminishing and disappearing. Given the extinction crisis that we currently find ourselves in, making connections between species extinction and our global capitalist system is crucial to driving conservation and species protection. By identifying species loss and extinction as a financially material risk pervasive across all aspects of business, finance and accounting we also identify an urgent need for action, for developing and implementing a Species Protection Action Plan to be spread out across the financial sector throughout all elements and levels of the capital markets, their structures, mechanisms and institutions.
Keywords: species extinction, extinction crisis, frameworks, sustainable finance
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