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Transformative changes in our production and consumption habits are needed toenable the sustainability transition towards carbon neutrality, no net loss ofbiodiversity, and planetary well-being. Organizations are the way we humanshave organized our everyday life, and much of our negative environmentalimpacts, also called carbon and biodiversity footprints, are caused byorganizations. Here we show how the financial accounts of any organization canbe exploited to develop an integrated carbon and biodiversity footprintaccount. As a metric we utilize spatially explicit potential global loss ofspecies which, we argue, can be understood as the biodiversity equivalent, theutility of which for biodiversity is similar to what carbon dioxide equivalentis for climate. We provide a global Biodiversity Footprint Database thatorganizations, experts and researchers can use to assess consumption-basedbiodiversity footprints. We also argue that the current integration offinancial and environmental accounting is superficial, and provide a frameworkfor a more robust financial value-transforming accounting model. To test themethodologies, we utilized a Finnish university as a living lab. Assigning anoffsetting cost to the footprints significantly altered the financial value ofthe organization. We believe such value-transforming accounting is needed inorder to draw the attention of senior executives and investors to the negativeenvironmental impacts of their organizations.

Value-transforming financial, carbon and biodiversity footprint accounting