Wu, Hanlin, Ma, Feng and Wang, Yizhi
2026.
Managing nature's challenges: how biodiversity concerns drive ESG performance.
China Finance Review International
10.1108/CFRI-11-2025-0766
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Abstract
Biodiversity loss poses substantial risks to ecosystems and corporate sustainability worldwide, impacting industries reliant on natural resources. This study examines the impact of management biodiversity concern (MBC) on corporate ESG performance using Chinese A-share listed companies from 2010 to 2023 as the sample. The main results of our study indicate that heightened management attention to biodiversity (MBC) significantly enhances ESG performance. Mechanism analysis indicates that green governance is an important channel through which MBC enhances ESG performance. In addition, heterogeneity analysis shows that this effect is more pronounced in firms facing stronger external public and regulatory pressures. To address potential endogeneity, we employ several analyses, ensuring robustness across various model specifications and controls. Notably, MBC’s influence is strongest on the Environmental Score within ESG ratings, with comparatively modest effects on Social and Governance scores. These results underscore the importance of biodiversity considerations in corporate strategies and suggest that firms attentive to biodiversity risks can enhance their sustainability profiles, offering a potential pathway for improving ESG metrics.
| Item Type: | Article |
|---|---|
| Date Type: | Published Online |
| Status: | In Press |
| Schools: | Schools > Business (Including Economics) |
| Subjects: | H Social Sciences > HG Finance |
| Additional Information: | RRS policy applied |
| Publisher: | Emerald |
| ISSN: | 2044-1398 |
| Date of First Compliant Deposit: | 16 April 2026 |
| Date of Acceptance: | 16 April 2026 |
| Last Modified: | 18 May 2026 12:30 |
| URI: | https://orca.cardiff.ac.uk/id/eprint/186449 |
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