Purpose – This paper aims to suggest that companies have ethical reasons to report about biodiversity issues and to investigate whether companies act on these reasons by examining the extent of biodiversity reporting in Denmark. Design/methodology/approach – For the first purpose, desk research was conducted using consequentialist ethics, while for the second purpose, data were gathered from the 2009-2011 annual reports, CSR-type reports and homepages of 24 Danish large-cap companies. Findings – Philosophically, it is shown that biodiversity preservation and reporting is an ethical issue, even on the assumption that biodiversity does not possess intrinsic value. Empirically, it is shown that Danish companies score poorly overall, both quantitatively and qualitatively, with regards to reporting on biodiversity. Research limitations/implications – Even though the importance of biodiversity can be justified on different assumptions, biodiversity reporting is under-researched offering potential for future research on a globally important issue. Practical implications – Justifying the preservation of biodiversity from an instrumental viewpoint might convince accounting audiences that are sceptical of normative ethical argumentation based on intrinsic value. The relative lack of biodiversity reporting in Denmark shows the need for the State and accounting standard setters to address this issue together with business and other stakeholders. Originality/value – Few studies theorize on why there is a need for environmental reporting. Those that do are based on non-instrumental considerations. This paper gives philosophical arguments for biodiversity reporting normally outside the scope of accounting. It emphasizes how even those who deny that biodiversity has intrinsic value are morally obliged to account for biodiversity. The argument also provides novel reasons for why thinking about discount rates should be governed by pure preference considerations. Empirically, this is only the second paper examining biodiversity reporting and the first about the Danish context.
