Symposium on Biodiversity and Nature-Based Finance and the Financial Markets

31st January 2026 | GGS Indraprastha University, New Delhi (Hybrid Event) Organised by the Biodiversity and Finance Risk Forum

Biodiversity loss and ecological degradation have emerged as defining systemic risks for the global financial system. As markets increasingly recognise nature as a critical asset class—shaping investment behaviour, regulatory architectures, and long-term financial stability—the need for deeper scholarly engagement becomes urgent.

In this context, the Biodiversity and Finance Risk Forum announces this symposium to convene academics, policymakers, regulators, financial-sector professionals, and sustainability practitioners. The event aims to explore how nature-related risks interact with market systems, deepen cross-disciplinary dialogue, stimulate methodological innovation, and illuminate the financial implications of biodiversity degradation.

Symposium Theme

Discussions will centre on the mechanisms through which nature-related risks—ranging from species loss and deforestation to water stress and land degradation—are integrated (or overlooked) within market pricing, asset valuation, regulation, disclosure norms, and financial innovation.

We explicitly welcome research situating biodiversity within wider sustainability debates, including Corporate Social Responsibility (CSR) and Environmental–Social–Governance (ESG) analytics.

Call for Papers: Key Themes

We invite interdisciplinary submissions spanning finance, economics, ecological science, sustainability studies, management, and public policy. Topics of interest include, but are not limited to:

• Nature-based risks in financial systems: Mapping exposures across asset classes.

• Modeling & Valuation: Integration of nature-related risks into financial instruments and models.

• Market Integrity: Biodiversity washing, shifting, and green claims in financial markets.

• Systemic Risk: Contagion and valuation impacts of biodiversity degradation.

• CSR & Reporting: Corporate biodiversity disclosures, sustainability governance, and organisational responses.

• ESG Analytics: Taxonomies, biodiversity-linked indicators, impact measurement frameworks.

• Financial Instruments: The design of green, transition, or nature-linked financial instruments.

Keynote & Meet the Editors

Keynote Lecture Prof. Brian Lucey (Trinity College Dublin) Leading Scholar in International Finance

Meet the Editors Session Participants will have the opportunity to engage with editors from leading journals to gain insights into publishing strategies and emerging research frontiers:

• Journal of Economic Surveys

• International Review of Economics & Finance (IREF)

• Journal of International Financial Management and Accounting (JIFMA)

Publication Opportunities

Selected papers may be invited to submit to prestigious Special Issues following the conference presentation and editorial evaluation.

Special Issue 1: Financial Markets, Institutions & Instruments (Wiley)

• Guest Editors: Brian Lucey, Iftekhar Hasan, Meijun Qian, and Feng He.

Special Issue 2: China Finance Review International (Emerald)

• Guest Editors: Sabri Boubaker, Peng-Fei Dai, Chengbo Fu, and Xiaohong (Sara) Wang.

Additional Publication Avenues

• International Review of Financial Analysis

• International Review of Economics and Finance

• Journal of International Financial Management and Accounting

Submission Guidelines

Authors may submit full papers or extended abstracts.

• Submission Deadline: 15 December 2025

• Email To: brianmlucey@gmail.com AND gagan@ipu.ac.in

• Subject Line: DELHI BIODIVERSITY SUBMISSION

Note: Submissions must include the title, authors’ affiliations, contact details, and preferred mode of presentation (Physical or Online).

Registration

The hybrid format enables global participation. In-person delegates will receive venue and logistical guidance closer to the event.

Physical Presentation $200 Presentation + Meet the Editors

Online Presentation $150  Presentation + Meet the Editors

Attendance Only  $100  No Presentation + Meet the Editors

Meet the Editors Only  $50  Session Access Only

Registration Deadline: December 31, 2025

Contact

Academic Inquiries: Prof. Brian Lucey Email: brianmlucey@gmail.com

Logistics & Coordination: Prof. Gagan Deep Sharma Email: gagan@ipu.ac.in

References:

[1]    Arlt, Sophia and Berg, Tobias and Hut, Xander and Streitz, Daniel, A Biodiversity Stress Test of the Financial System (November 29, 2024). Available at SSRN: https://ssrn.com/abstract=5038769 or http://dx.doi.org/10.2139/ssrn.5038769

[2]    Becker, Annette, Francesca Erica Di Girolamo, and Caterina Rho (2025).  “Loan pricing and biodiversity exposure: Nature-related spillovers to the financial sector”. In: Research in International Business and Finance 75, p. 102724.

[3]    BNM, Bank Negara Malaysia. "An Exploration of Nature-Related Financial Risks in Malaysia." (2022).

[4]    Boldrini, S., Ceglar, A., Lelli, C., Parisi, L., & Heemskerk, I. (2023). Living in a world of disappearing nature: physical risk and the implications for financial stability (No. 333). ECB Occasional Paper.

[5]    Calice, P., Kalan, F. D., & Miguel, F. (2021). Nature-related financial risks in Brazil. Policy Research Working Papers.

[6]    Freystätter, H., Kauko, K., Kärkkäinen, S., & Määttä, I. (2024). Climate change and biodiversity loss as systemic threats to financial stability in Finland. Bank of Finland bulletin  2024 https://publications.bof.fi/handle/10024/53891

[7]    Giglio, S., Kuchler, T., Stroebel, J., & Zeng, X. (2023). Biodiversity risk (No. w31137). National bureau of economic research.

[8]    Hadji-Lazaro, Paul, Mathilde Salin, Romain Svartzman, Etienne Espagne, Julien Gauthey, Joshua Berger, Julien Calas, Antoine Godin, and Antoine Vallier. "Biodiversity loss and financial stability as a new frontier for central banks: An exploration for France." Ecological Economics 223 (2024): 108246.

[9]    He, Feng; Chen, Longxuan; Lucey, Brian M; 2024   Chinese corporate biodiversity exposure Finance Research Letters, 70, 106275

[10] Hoepner, Andreas G. F. and Klausmann, Johannes and Leippold, Markus and Rillaerts, Jordy, Beyond Climate: The Impact of Biodiversity, Water, and Pollution on the CDS Term Structure (February 8, 2023). Available at SSRN: https://ssrn.com/abstract=4351633 or http://dx.doi.org/10.2139/ssrn.4351633

[11] Kedward, K., Ryan-Collins, J., & Chenet, H. (2023). Biodiversity loss and climate change interactions: financial stability implications for central banks and financial supervisors. Climate Policy, 23(6), 763-781.

[12] NGFS 2024 Central banking and supervision in the biosphere: An agenda for action on biodiversity loss, financial risk and system stability  https://www.ngfs.net/en/publications-and-statistics/publications/central-banking-and-supervision-biosphere-agenda-action-biodiversity-loss-financial-risk-and-system

[13] Ranger, Nicola, Tom Oliver, Jimena Alvarez, Stefano Battiston, Sebastian Bekker, Helen Killick, Ian Hurst et al. "Assessing the materiality of nature-related financial risks for the UK." (2024). https://nora.nerc.ac.uk/id/eprint/537627/

[14] Rao, Amar; Lucey, Brian M; Kumar, Satish;  2024 Corporate Biodiversity Risk and Concern: Evidence from Indian Firms and Industry-Level Insights Available at SSRN 4986392             

[15] Soylemezgil, Sevgi and Cihan Uzmanoglu (2024). “Biodiversity risk in the corporate bond market”. In: Available at SSRN 4721219  

[16] Van Toor, J., Piljic, D., & Schellekens, G. (2020). Indebted to nature exploring biodiversity risks for the Dutch financial sector [online]. DeNederlandsche Bank. https://www.dnb.nl/media/4c3fqawd/indebted-to-nature.pdf

[17] Wang, Yueyang; Lei, Lanxin; Xing, Zixiao; Lucey, Brian M; Wang, Yizhi;  2025 Biodiversity at Risk: How Managerial Myopia and Incentives Shape UK Corporate Environmental Strategies    Available at SSRN 5151470