生物多样性投资的底层逻辑、体系架构与运营模式

doi:10.17520/biods.2026157

生物多样性 ›› 2026, Vol. 34 ›› Issue (7): 26157. DOI: 10.17520/biods.2026157 cstr: 32101.14.biods.2026157

生物多样性投资的底层逻辑、体系架构与运营模式

黎明¹^,^*(), 朱玉茹¹, 秦响玲¹, 李乔坤¹, 邢伟²

¹ 湖北工业大学经济与管理学院, 武汉 430068
² 湖北工业大学土木建筑与环境学院, 武汉 430068

收稿日期:2026-04-28 接受日期:2026-07-21 出版日期:2026-07-20 发布日期:2026-09-21
通讯作者: 黎明
基金资助:
国家自然科学基金(32570448);国家自然科学基金(32170375);中国服务贸易协会项目(CATIS-PR-260201);教育部人文社会科学研究项目(17YJC790176);世界自然基金会国际合作项目(WWFPO3050);中华环境保护基金会项目(ZXKY20250044)

Underlying logic, system architecture, and operational models of biodiversity investment

Ming Li¹^,^*(), Yuru Zhu¹, Xiangling Qin¹, Qiaokun Li¹, Wei Xing²

¹ School of Economics and Management, Hubei University of Technology, Wuhan 430068, China
² School of Civil Engineering, Architecture and Environment, Hubei University of Technology, Wuhan 430068, China

Received:2026-04-28 Accepted:2026-07-21 Online:2026-07-20 Published:2026-09-21
Contact: Ming Li
Supported by:
National Natural Science Foundation of China(32570448);National Natural Science Foundation of China(32170375);China Association of Trade in Services(CATIS-PR-260201);Humanities and Social Sciences Research Project of the Ministry of Education(17YJC790176);World Wide Fund for Nature International Cooperation Project(WWFPO3050);China Environmental Protection Foundation Project(ZXKY20250044)

摘要/Abstract

摘要：

在全球生物多样性持续丧失的严峻形势下, 生物多样性投资已从概念设计逐步发展为全球经济绿色转型的重要驱动力, 面对生物多样性风险日益凸显而投资理论框架尚不系统的现实问题, 本文旨在阐明生物多样性投资的底层逻辑与运行体系, 以期为自然资本与社会经济效益的深度融合提供理论依据。文章通过系统梳理生物多样性风险对企业运营的冲击路径, 明晰了生物多样性风险对企业成本、供应链、合规声誉等方面的传导机制, 形成了以自然价值量化为核心的生物多样性投资运行逻辑与关联生态架构, 同时就生物多样性投资多元化的运营模式及适用场景展开了讨论。通过解析生物多样性风险产生根源, 本文结合生物多样性价值的多维性导致产权界定困难、市场与政府双重失灵阻碍社会资本深度介入、企业认知不足导致评估框架设定难以精准锚定等现实困难, 对中国生物多样性投资实践针对性地从核证体系的制度化建构、额外性验证的管理建构和持续财政的制度化建构3个层面提出了建设路径。

关键词: 生物多样性投资, 体系架构, 运营模式, 自然资本, 风险传导

Abstract

Background & Aims: Biodiversity investment has gradually evolved from a conceptual design into a key driver of the global economy’s green transition against the ongoing global biodiversity loss. In response to the increasingly prominent biodiversity risks and the lack of a systematic investment theory framework, this paper aims to elucidate the underlying logic and operational system of biodiversity investment, thereby providing a theoretical foundation for the deep integration of natural capital with economic and social benefits.
Results: The study systematically reviewed the impact pathways of biodiversity risks on corporate operations. Following risk identification, it analyzed the theoretical foundations and logic underpinning biodiversity investment, established an integrated ecological architecture, and discussed various operational models and their respective application settings. Based on an analysis of the origin of biodiversity risks, this paper further elucidated the transmission channels through which biodiversity risks impact corporate costs, supply chains, and compliance and reputational standing. Consequently, it established a foundational logic anchored in the quantification of natural value, along with an associated ecological architecture.
Suggestions: This paper proposes three constructive pathways for biodiversity investment in China, grounded in an analysis of the practical challenges at hand. These challenges include ambiguous property rights arising from the multidimensional nature of biodiversity value, the dual failure of markets and governments that deters social capital, and limited corporate awareness that undermines the precision of assessment frameworks. The proposed pathways consist of institutionalizing a verification system, operationalizing additionality validation management, and establishing a sustained financing framework.

Key words: biodiversity investment, system architecture, operational models, natural capital, risk transmission

黎明, 朱玉茹, 秦响玲, 李乔坤, 邢伟 (2026) 生物多样性投资的底层逻辑、体系架构与运营模式. 生物多样性, 34, 26157. DOI: 10.17520/biods.2026157.

Ming Li, Yuru Zhu, Xiangling Qin, Qiaokun Li, Wei Xing (2026) Underlying logic, system architecture, and operational models of biodiversity investment. Biodiversity Science, 34, 26157. DOI: 10.17520/biods.2026157.

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链接本文: https://www.biodiversity-science.net/CN/10.17520/biods.2026157

https://www.biodiversity-science.net/CN/Y2026/V34/I7/26157

图/表 4

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生物多样性投资 Biodiversity investment	投资方向 Investment direction	环境目标 Environmental goals	《昆蒙框架》目标 KMGBF goal	金融产品 Financial products
生物多样性协同效益投资 Biodiversity co-benefits investment	生产性土地利用/农业: 在不增加环境足迹的前提下, 提高现有土地的作物产量/质量 Productive land use/agriculture: improve crop yield/quality on existing land without increasing the environmental footprint	生物多样性, 自然资源保护, 污染预防与控制, 气候变化减缓, 气候变化适应 Biodiversity, natural resource conservation, pollution prevention and control, climate change mitigation, climate change adaptation	1/10	土地退化零增长基金(LDN): 催化变革性资本, 联合公共和私人投资者, 为推进可持续农业与土地退化零增长的项目融资(UNCCD & Mirova, 2017) Land Degradation Neutrality (LDN) Fund: mobilizes catalytic capital by combining public and private investments to finance projects promoting sustainable agriculture and land degradation neutrality (UNCCD & Mirova, 2017)
	林业和种植园: 如符合国际最佳实践的可持续森林生产和经营 Forestry and plantations: sustainable forest production and management aligned with international best practices	生物多样性, 自然资源保护, 气候变化减缓 Biodiversity, natural resource conservation, climate change mitigation	10/16	荷兰通用储蓄银行(ASN)生物多样性基金: 通过对项目和企业的全球投资, 重点关注可持续林业、农林业、海洋与渔业以及生态旅游领域, 为生物多样性的保护、维护和恢复做出贡献(GFI, 2022) Algemene Spaarbank voor Nederland (ASN) Biodiversity Fund: invests globally in projects and companies focusing on sustainable forestry, agroforestry, marine and fisheries sectors, and ecotourism, contributing to biodiversity conservation, maintenance, and restoration (GFI, 2022)
	淡水/海洋可持续生产: 通过可持续渔业和渔业实践(渔具限制与改进、捕捞量与采购程序、船只改造、减少兼捕) Freshwater/marine sustainable production: sustainable fisheries practices (e.g., gear restrictions and improvements, catch limits, procurement standards, vessel retrofitting, and bycatch reduction)	生物多样性, 自然资源保护 Biodiversity, natural resource conservation	10/5	可持续海洋基金(SOF): 通过投资于可持续渔业、水产养殖和海洋相关可再生能源项目等一系列领域, 支持海洋资源的可持续利用(Mirova, 2021) Sustainable Ocean Fund (SOF): supports sustainable use of marine resources through investments in fisheries, aquaculture, and ocean-related renewable energy projects (Mirova, 2021)
生物多样性保护和/或恢复投资 Biodiversity conservation and/or restoration investments	淡水和海洋栖息地保护或恢复: 如海草床、珊瑚礁和红树林, 旨在保护重要物种、改善栖息地并提供服务或重要生态功能 Freshwater and marine habitat conservation/restoration: e.g., seagrass beds, coral reefs, mangroves, aimed at protecting key species, improving habitats, and maintaining ecosystem functions	生物多样性, 自然资源保护, 气候变化减缓 Biodiversity, natural resource conservation, climate change mitigation	1/2/3/4/11/19	DWS Concept ESG蓝色经济基金: 主要投资于解决海洋酸化、减少海洋污染、海洋保护、可持续资源管理和渔业可持续性等问题的公司(DWS, 2025) DWS Concept ESG Blue Economy Fund: invests in companies addressing ocean acidification, marine pollution reduction, conservation, sustainable resource management, and fisheries sustainability (DWS, 2025)
基于自然的解决方案的生态增益投资 Investments in nature-based solutions (NbS) for ecological enhancement	应对洪水和土壤/水盐碱化 Flood mitigation and soil/water salinization control	生物多样性, 自然资源保护, 气候变化减缓, 气候变化适应 Biodiversity, natural resource conservation, climate change mitigation, climate change adaptation	2/8/11	湿地环境影响力债券: 通过减轻海岸侵蚀、海平面上升、风暴潮和侵扰性洪水对社区的影响, 为路易斯安那州重要的沿海湿地恢复项目弥合资金缺口(EDF, 2018) Wetland Environmental Impact Bond: bridges financing gaps for coastal wetland restoration projects in Louisiana, addressing coastal erosion, sea-level rise, storm surges, and flooding impacts (EDF, 2018)

生物多样性投资 Biodiversity investment	投资方向 Investment direction	环境目标 Environmental goals	《昆蒙框架》目标 KMGBF goal	金融产品 Financial products
生物多样性协同效益投资 Biodiversity co-benefits investment	生产性土地利用/农业: 在不增加环境足迹的前提下, 提高现有土地的作物产量/质量 Productive land use/agriculture: improve crop yield/quality on existing land without increasing the environmental footprint	生物多样性, 自然资源保护, 污染预防与控制, 气候变化减缓, 气候变化适应 Biodiversity, natural resource conservation, pollution prevention and control, climate change mitigation, climate change adaptation	1/10	土地退化零增长基金(LDN): 催化变革性资本, 联合公共和私人投资者, 为推进可持续农业与土地退化零增长的项目融资(UNCCD & Mirova, 2017) Land Degradation Neutrality (LDN) Fund: mobilizes catalytic capital by combining public and private investments to finance projects promoting sustainable agriculture and land degradation neutrality (UNCCD & Mirova, 2017)
	林业和种植园: 如符合国际最佳实践的可持续森林生产和经营 Forestry and plantations: sustainable forest production and management aligned with international best practices	生物多样性, 自然资源保护, 气候变化减缓 Biodiversity, natural resource conservation, climate change mitigation	10/16	荷兰通用储蓄银行(ASN)生物多样性基金: 通过对项目和企业的全球投资, 重点关注可持续林业、农林业、海洋与渔业以及生态旅游领域, 为生物多样性的保护、维护和恢复做出贡献(GFI, 2022) Algemene Spaarbank voor Nederland (ASN) Biodiversity Fund: invests globally in projects and companies focusing on sustainable forestry, agroforestry, marine and fisheries sectors, and ecotourism, contributing to biodiversity conservation, maintenance, and restoration (GFI, 2022)
	淡水/海洋可持续生产: 通过可持续渔业和渔业实践(渔具限制与改进、捕捞量与采购程序、船只改造、减少兼捕) Freshwater/marine sustainable production: sustainable fisheries practices (e.g., gear restrictions and improvements, catch limits, procurement standards, vessel retrofitting, and bycatch reduction)	生物多样性, 自然资源保护 Biodiversity, natural resource conservation	10/5	可持续海洋基金(SOF): 通过投资于可持续渔业、水产养殖和海洋相关可再生能源项目等一系列领域, 支持海洋资源的可持续利用(Mirova, 2021) Sustainable Ocean Fund (SOF): supports sustainable use of marine resources through investments in fisheries, aquaculture, and ocean-related renewable energy projects (Mirova, 2021)
生物多样性保护和/或恢复投资 Biodiversity conservation and/or restoration investments	淡水和海洋栖息地保护或恢复: 如海草床、珊瑚礁和红树林, 旨在保护重要物种、改善栖息地并提供服务或重要生态功能 Freshwater and marine habitat conservation/restoration: e.g., seagrass beds, coral reefs, mangroves, aimed at protecting key species, improving habitats, and maintaining ecosystem functions	生物多样性, 自然资源保护, 气候变化减缓 Biodiversity, natural resource conservation, climate change mitigation	1/2/3/4/11/19	DWS Concept ESG蓝色经济基金: 主要投资于解决海洋酸化、减少海洋污染、海洋保护、可持续资源管理和渔业可持续性等问题的公司(DWS, 2025) DWS Concept ESG Blue Economy Fund: invests in companies addressing ocean acidification, marine pollution reduction, conservation, sustainable resource management, and fisheries sustainability (DWS, 2025)
基于自然的解决方案的生态增益投资 Investments in nature-based solutions (NbS) for ecological enhancement	应对洪水和土壤/水盐碱化 Flood mitigation and soil/water salinization control	生物多样性, 自然资源保护, 气候变化减缓, 气候变化适应 Biodiversity, natural resource conservation, climate change mitigation, climate change adaptation	2/8/11	湿地环境影响力债券: 通过减轻海岸侵蚀、海平面上升、风暴潮和侵扰性洪水对社区的影响, 为路易斯安那州重要的沿海湿地恢复项目弥合资金缺口(EDF, 2018) Wetland Environmental Impact Bond: bridges financing gaps for coastal wetland restoration projects in Louisiana, addressing coastal erosion, sea-level rise, storm surges, and flooding impacts (EDF, 2018)

生物多样性投资的底层逻辑、体系架构与运营模式

Underlying logic, system architecture, and operational models of biodiversity investment

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