Sectoral heterogeneity in corporate biodiversity disclosure: Evidence from chinese listed companies across industries, 2001–2023

Abstract

This study examines sectoral heterogeneity in corporate biodiversity disclosure (CBD) among Chinese listed firms over the period 2001–2023. Drawing on stakeholder, institutional, and resource dependency theories, it investigates how environmental exposure, ownership structures, and market dynamics influence biodiversity risk recognition and disclosure intensity across 19 industries. Based on a longitudinal dataset comprising 57,367 firm-year observations, the findings reveal substantial variation in CBD practices. Environmentally sensitive sectors such as agriculture, mining, and construction demonstrate higher disclosure levels, while service-oriented industries often engage in symbolic reporting. Temporal analysis highlights accelerated CBD growth in IT and finance sectors, challenging conventional assumptions about ecological proximity. The study offers policy insights for tailoring biodiversity reporting frameworks to sector-specific characteristics in emerging markets.