Abstract
Humanity must find a way to transition from a global economy that drives nature loss (i.e. ‘nature-negative’) to one that drives nature restoration (i.e. ‘nature-positive’). The economisation of nature seeks to facilitate this by bringing nature into account in economic decision-making. However, the failure of economisation to address the complexities of nature and of business–nature relations has rendered it largely ineffective at enabling managers to take action on nature restoration. The Taskforce for Nature-related Financial Disclosures (TNFD) represents a potentially critical evolution in the economisation of nature, aimed at enabling financial market investors to recognise their interests in the systemic risks arising from nature loss, thus better aligning corporate financial imperatives with nature restoration. By advancing a conceptual understanding of nature that includes an ecological dimension alongside the economic, and then using this conceptual understanding as the basis for a supply of location-based information to financial markets about where and how a corporation interfaces with nature, the TNFD imagines corporations becoming capable of moving away from exploiting nature and towards restoring nature, contributing towards the realisation of a ‘nature-positive’ future. This envisaged movement towards corporate engagement with ecology opens up new possibilities for accounting scholarship.
Original language | English |
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Title of host publication | The Routledge Handbook of Accounting for Sustainable Development Goals |
Editors | Andrea Venturelli, Chiara Mio |
Place of Publication | London |
Publisher | Routledge |
Pages | 360-374 |
Number of pages | 15 |
Edition | 1 |
ISBN (Electronic) | 9781003404118 |
ISBN (Print) | 9781032518282 |
DOIs | |
Publication status | Published - 5 Nov 2024 |