Andrew Karolyi, Charles Field Knight Dean of the Cornell SC Johnson College of Business, delivered this keynote address to the 2024 Eighth Annual Shanghai Green Finance Conference.
In this talk, Andrew Karolyi discusses global biodiversity loss risk. Providing data on species decline and sources measuring the dependency of GDP on nature and its services, Karolyi provides figures on the funding needed to prevent biodiversity loss, as well on the funding currently being employed. There’s a significant gap between the two. Karolyi points to specific targets and commitments that have been set mobilizing public and private capital. In 2024, Karolyi and colleague John Tobin-de la Puente published the paper A Call for Biodiversity Finance, showing the accelerating loss of biodiversity on earth and the growing need for financial flows to be directed toward arresting these losses. They document the financing gap and then provide a framework and open research questions for financial economists to pursue in supporting sustainable biodiversity management.
Read more about SC Johnson College of Business faculty and research here.