Motivators of biodiversity accounting: A teleological analysis of European policies and actions

Purpose: This study addresses the need to include biodiversity in sustainability reporting. It investigates biodiversity accounting approaches in relation to the European Sustainability Reporting Standards (ESRS), examining European regulations, directives, and strategies to understand their motivations and implications for biodiversity.
Design/methodology/approach: A comparative approach is adopted to deconstruct anthropocentric and non-anthropocentric perspectives on biodiversity valuation and discuss related ethical considerations. The study examines accounting methodologies such as ecosystem services, natural capital, natural inventory, and extinction accounting, and evaluates their coherence with the EU’s standpoint on biodiversity, notably vis-à-vis ESRS E4.
Findings: The results underscore the need for a multi-perspective understanding of biodiversity and alignment of accounting practices with the EU’s standpoint. They highlight that the concept of telecoupling and social justice considerations must be included in biodiversity accounting, with a focus on local communities and Indigenous populations.
Originality/Value: This study reveals novel potential research avenues on biodiversity accounting, including the interplay between anthropocentric and non-anthropocentric perspectives, the EU’s approach, and integration of social equity. The goal is to refine practices and ensure their alignment with the various motivations for biodiversity accounting.