Biodiversity loss is a risk to the global financial system | Geoff Summerhayes and Laura Waterford

The world's biodiversity is declining faster than at any other time in human history, and an estimated 1 million species are at risk of extinction

Corporate Australia is familiar with the concept that climate change presents a financial risk to the global economy, but more recently biodiversity loss has emerged as an equally important risk.

In fact, climate change and biodiversity loss are now often referred to as the twin crises" facing the global financial system and awareness of the role the financial sector plays in this is rising swiftly.