Pricing Nature, Managing Risk: The Intellectual Structure of Biodiversity in Finance

ABSTRACT

Faced with the accelerating erosion of biodiversity and its growing recognition as a source of financial risks and opportunities, the academic literature linking biodiversity and finance is expanding rapidly. This article offers a systematic and bibliometric review of this literature in order to analyze its evolution, intellectual structure, main conceptual dynamics and gap identification. Aligning with the PRISMA‐2020 protocol, this study examines 1088 scientific articles published in the period 1993–2025. The data were extracted from Scopus and Web of Science databases. The analysis uses descriptive bibliometric methods available in R software and the bibliometrix package via the Biblioshiny interface. The results highlighted a strong acceleration of scientific production since 2015, which is linked with the development of sustainable finance and international regulatory frameworks. While the thematic mapping identifies a broader landscape, three key areas are prioritized for in‐depth analysis: Sustainability as a macroeconomic framework, Biodiversity conservation via innovation in financial instruments, and the emergence of biodiversity risk as a systemic financial risk. Beyond descriptive mapping, this study proposes the Biodiversity‐Finance Inhibition Framework (BFIF) as an integrative conceptual framework to synthesize the persistent disconnect between academic evidence and market implementation. It identifies a systemic “Inhibition Loop” where data gaps at the micro‐level and a lack of ecological accountability at the meso‐level paralyze macro‐regulatory ambitions. The article also highlights a significant geographical disparity, with research heavily concentrated in developed economies. Finally, it outlines a strategic research agenda aimed at breaking this “Inhibition Loop” by exploring a “methodological frontier” involving bio‐econometrics, blockchain, and artificial intelligence to reinforce the measurement, governance, and effectiveness of biodiversity‐finance.