The Nexus Between Biodiversity and Sovereign Credit Ratings: Global Environmental and Economic Interdependencies from a Sustainability Perspective

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dc.authorid0000-0001-7750-6286
dc.authorid0000-0001-9496-6452
dc.contributor.authorSeker, Ayberk
dc.contributor.authorIsguven, Mahmut Kadir
dc.date.accessioned2026-02-08T15:16:02Z
dc.date.available2026-02-08T15:16:02Z
dc.date.issued2025
dc.departmentBursa Teknik Üniversitesi
dc.description.abstractThis study explores the nuanced relationship between biodiversity and sovereign credit ratings, underscoring the link between environmental sustainability and economic resilience. As credit rating methodologies increasingly incorporate Environmental, Social, and Governance (ESG) dimensions alongside traditional macroeconomic indicators, biodiversity has emerged as a vital factor influencing sovereign creditworthiness. Drawing on a panel dataset of 62 countries-representing 91% of the global GDP and 81% of the world's greenhouse gas emissions-from 2001 to 2021, the research utilizes advanced econometric techniques, including the panel Generalized Method of Moments (GMM) and panel quantile regression. The GMM analysis indicates that higher biodiversity levels are generally associated with a decline in credit ratings. However, the quantile regression provides a more differentiated view, revealing that biodiversity's impact varies by a country's existing credit standing. Specifically, nations with lower credit ratings tend to benefit from richer biodiversity, while countries with higher credit ratings show a modest negative association-reflecting structural and institutional differences. Robustness checks confirm these results, highlighting the relevance of biodiversity indicators such as the Red List Index in credit evaluations. The findings support the integration of biodiversity into sovereign risk assessments to enhance the alignment of financial systems with long-term ecological and economic sustainability goals.
dc.identifier.doi10.3390/su17114977
dc.identifier.issn2071-1050
dc.identifier.issue11
dc.identifier.scopus2-s2.0-105007821177
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.3390/su17114977
dc.identifier.urihttps://hdl.handle.net/20.500.12885/6083
dc.identifier.volume17
dc.identifier.wosWOS:001506087000001
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherMdpi
dc.relation.ispartofSustainability
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzWOS_KA_20260207
dc.subjectenvironmental sustainability
dc.subjectbiodiversity
dc.subjectred list index
dc.subjectnature loss
dc.subjectSovereign credit ratings
dc.subjectsustainable development
dc.titleThe Nexus Between Biodiversity and Sovereign Credit Ratings: Global Environmental and Economic Interdependencies from a Sustainability Perspective
dc.typeArticle

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