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The Biodiversity Paradox in Emerging Markets: Are African Multinational Enterprises Truly Committed to Environmental Preservation?
Attah-Boakye, Rexford Kimani, Danson Asad, Muhammad Adu, Douglas
Attah-Boakye, Rexford
Kimani, Danson
Asad, Muhammad
Adu, Douglas
Publication Date
2026-04-01
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© 2026 The Author(s). This is the Author Accepted Manuscript of the article distributed under the Creative Commons CC-BY license (https://creativecommons.org/licenses/by/4.0) in accordance with the University of Bradford Rights Retention Policy.
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2026-03-02
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Abstract
Research on biodiversity has centred on MNEs from Triad economies. Although African MNEs command a small share of global output, they operate in biodiversity-rich sectors. This study examines how internal governance and national institutions influence biodiversity commitment in African MNEs. Using the Upper Echelons and Institutional theories, the study sought to understand the extent to which board independence and board gender diversity influenced firm-level biodiversity commitment, and whether the presence of a sustainability committee and institutional quality enhanced that commitment. We analysed a panel dataset of 247 listed MNEs from Nigeria, Egypt, South Africa, Kenya and Ghana between 2010–2023. Biodiversity commitment is measured with four indicators covering commitment, due diligence, impact assessment and risk assessment. We find that board independence is associated with a higher likelihood of biodiversity commitment and greater female representation on boards shows the same pattern for the composite measure and each component indicator. Sustainability or governance committees exhibit a negative average association that becomes positive where regulatory quality is stronger. We identify specific governance attributes linked to biodiversity outcomes and specifies the institutional conditions under which committees function as substantive controls. Board composition, regulatory quality and investor assessment of substance beyond disclosure present significant implications for future research.
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Attah-Boakye R, Kimani D, Adams K et al (2026) The Biodiversity Paradox in Emerging Markets: Are African Multinational Enterprises Truly Committed to Environmental Preservation? Business Strategy and the Environment
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