Sylvain Maechler
@sylvainmaechler.bsky.social
Postdoctoral researcher at the Geneva Graduate Institute
PhD from University of Lausanne
International political economy & Environmental politics
Green accounting, Biodiversity govervance, Central banks
http://sylvainmaechler.ch/
PhD from University of Lausanne
International political economy & Environmental politics
Green accounting, Biodiversity govervance, Central banks
http://sylvainmaechler.ch/
If you’re interested in green finance, accounting, or the politics of numbers, this one’s for you.
Many thanks to @mattkranke.bsky.social & Malcolm Campbell-Verduyn for putting together the special issue! 7/7
Many thanks to @mattkranke.bsky.social & Malcolm Campbell-Verduyn for putting together the special issue! 7/7
January 6, 2026 at 9:40 AM
If you’re interested in green finance, accounting, or the politics of numbers, this one’s for you.
Many thanks to @mattkranke.bsky.social & Malcolm Campbell-Verduyn for putting together the special issue! 7/7
Many thanks to @mattkranke.bsky.social & Malcolm Campbell-Verduyn for putting together the special issue! 7/7
Our argument:
Green accounting works less as a solution than as a political economy of delay; a temporary socio-ecological fix. 6/7
Green accounting works less as a solution than as a political economy of delay; a temporary socio-ecological fix. 6/7
January 6, 2026 at 9:40 AM
Our argument:
Green accounting works less as a solution than as a political economy of delay; a temporary socio-ecological fix. 6/7
Green accounting works less as a solution than as a political economy of delay; a temporary socio-ecological fix. 6/7
This doesn’t mean green accounting is irrelevant. Its effects are real:
– producing urgency
– mobilising expertise
– creating new institutions
– sustaining the sense that economies are in the process of fixing themselves. 5/7
– producing urgency
– mobilising expertise
– creating new institutions
– sustaining the sense that economies are in the process of fixing themselves. 5/7
January 6, 2026 at 9:40 AM
This doesn’t mean green accounting is irrelevant. Its effects are real:
– producing urgency
– mobilising expertise
– creating new institutions
– sustaining the sense that economies are in the process of fixing themselves. 5/7
– producing urgency
– mobilising expertise
– creating new institutions
– sustaining the sense that economies are in the process of fixing themselves. 5/7
Despite these differences, they face a similar structural problem.
Across all three, green accounting struggles to wrestle with the conventional accounting infrastructure (GDP, financial reporting, valuation logics).
It circles the core infrastructure rather than transforming it. 4/7
Across all three, green accounting struggles to wrestle with the conventional accounting infrastructure (GDP, financial reporting, valuation logics).
It circles the core infrastructure rather than transforming it. 4/7
January 6, 2026 at 9:40 AM
Despite these differences, they face a similar structural problem.
Across all three, green accounting struggles to wrestle with the conventional accounting infrastructure (GDP, financial reporting, valuation logics).
It circles the core infrastructure rather than transforming it. 4/7
Across all three, green accounting struggles to wrestle with the conventional accounting infrastructure (GDP, financial reporting, valuation logics).
It circles the core infrastructure rather than transforming it. 4/7
We distinguish three major green accounting agendas:
1. Biophysical accounting since the 1980s
2. Natural capital accounting since the 1990s
3. Nature-related risk accounting since the 2010s
Different actors, different logics, different arenas. 3/7
1. Biophysical accounting since the 1980s
2. Natural capital accounting since the 1990s
3. Nature-related risk accounting since the 2010s
Different actors, different logics, different arenas. 3/7
January 6, 2026 at 9:40 AM
We distinguish three major green accounting agendas:
1. Biophysical accounting since the 1980s
2. Natural capital accounting since the 1990s
3. Nature-related risk accounting since the 2010s
Different actors, different logics, different arenas. 3/7
1. Biophysical accounting since the 1980s
2. Natural capital accounting since the 1990s
3. Nature-related risk accounting since the 2010s
Different actors, different logics, different arenas. 3/7
In the past few yeaes, green accounting is repeatedly sold as revolutionary.
Yet novelty is often exaggerated. Green accounting has existed since the 1970s–80s, involving heterogeneous communities of actors with very different political projects and expectations. 2/7
Yet novelty is often exaggerated. Green accounting has existed since the 1970s–80s, involving heterogeneous communities of actors with very different political projects and expectations. 2/7
January 6, 2026 at 9:40 AM
In the past few yeaes, green accounting is repeatedly sold as revolutionary.
Yet novelty is often exaggerated. Green accounting has existed since the 1970s–80s, involving heterogeneous communities of actors with very different political projects and expectations. 2/7
Yet novelty is often exaggerated. Green accounting has existed since the 1970s–80s, involving heterogeneous communities of actors with very different political projects and expectations. 2/7
@christianelliott.bsky.social @greenprofgreen.bsky.social @krdgnydn.bsky.social @matpaterson.bsky.social @vapunkt.bsky.social @pgolka.bsky.social @ryankatzrosene.bsky.social @rosiecollington.bsky.social @jvtk.bsky.social @greenfinanceobs.bsky.social @estherturnhout.bsky.social @kprodani.bsky.social
November 19, 2025 at 6:43 AM
Perhaps of interest [email protected] @monicadileo.bsky.social @jcgraz.bsky.social @stefanaykut.bsky.social @johnhoganmorris.bsky.social @nataschavanderzwan.bsky.social @vkluzik.bsky.social @pkashwan.bsky.social @james7jackson.bsky.social @amandine-orsini.bsky.social @jhollway.bsky.social
November 19, 2025 at 6:43 AM
Thanks to @uottawa.ca @cepi-cips.bsky.social for their support and providing open-access, and to @gvagrad-ggc.bsky.social
Thanks also to @etsingou.bsky.social @mattkranke.bsky.social @jhasselbalch.bsky.social for helpful comments on earlier version. 7/7
Thanks also to @etsingou.bsky.social @mattkranke.bsky.social @jhasselbalch.bsky.social for helpful comments on earlier version. 7/7
Bluesky
ingou.bsky.social
November 19, 2025 at 6:43 AM
Thanks to @uottawa.ca @cepi-cips.bsky.social for their support and providing open-access, and to @gvagrad-ggc.bsky.social
Thanks also to @etsingou.bsky.social @mattkranke.bsky.social @jhasselbalch.bsky.social for helpful comments on earlier version. 7/7
Thanks also to @etsingou.bsky.social @mattkranke.bsky.social @jhasselbalch.bsky.social for helpful comments on earlier version. 7/7
These strategies make institutions appear failure-proof, because they can always show progress: reports, conferences, new metrics, bigger networks.
But they also make them failure-prone, because they distract from the deeper failures of biodiversity governance. 6/7
But they also make them failure-prone, because they distract from the deeper failures of biodiversity governance. 6/7
November 19, 2025 at 6:43 AM
These strategies make institutions appear failure-proof, because they can always show progress: reports, conferences, new metrics, bigger networks.
But they also make them failure-prone, because they distract from the deeper failures of biodiversity governance. 6/7
But they also make them failure-prone, because they distract from the deeper failures of biodiversity governance. 6/7
Displacement happens when the work of creating biodiversity-related indicators and metrics becomes the main activity itself within these institutions. 5/7
November 19, 2025 at 6:43 AM
Displacement happens when the work of creating biodiversity-related indicators and metrics becomes the main activity itself within these institutions. 5/7
To cope with this discomfort, they rely on two strategies: diversion and displacement.
Diversion creates decoy activities that give the impression of progress — what we call governing by showing. 4/7
Diversion creates decoy activities that give the impression of progress — what we call governing by showing. 4/7
November 19, 2025 at 6:43 AM
To cope with this discomfort, they rely on two strategies: diversion and displacement.
Diversion creates decoy activities that give the impression of progress — what we call governing by showing. 4/7
Diversion creates decoy activities that give the impression of progress — what we call governing by showing. 4/7
Drawing on the sociology of expertise, we show how they confront two forms of uncomfortable knowledge in biodiversity governance:
1️⃣ that three decades of efforts to “make biodiversity pay for itself” have largely failed, and
2️⃣ that biodiversity governance continues to fall short of its goals. 3/7
1️⃣ that three decades of efforts to “make biodiversity pay for itself” have largely failed, and
2️⃣ that biodiversity governance continues to fall short of its goals. 3/7
November 19, 2025 at 6:43 AM
Drawing on the sociology of expertise, we show how they confront two forms of uncomfortable knowledge in biodiversity governance:
1️⃣ that three decades of efforts to “make biodiversity pay for itself” have largely failed, and
2️⃣ that biodiversity governance continues to fall short of its goals. 3/7
1️⃣ that three decades of efforts to “make biodiversity pay for itself” have largely failed, and
2️⃣ that biodiversity governance continues to fall short of its goals. 3/7
We examine two recent institutions:
1️⃣ the European Business and Nature Platform, which brings businesses together around “valuing nature”
2️⃣ the Network for Greening the Financial System, a coalition of central banks and financial supervisors measuring the financial risks of biodiversity loss 2/7
1️⃣ the European Business and Nature Platform, which brings businesses together around “valuing nature”
2️⃣ the Network for Greening the Financial System, a coalition of central banks and financial supervisors measuring the financial risks of biodiversity loss 2/7
November 19, 2025 at 6:43 AM
We examine two recent institutions:
1️⃣ the European Business and Nature Platform, which brings businesses together around “valuing nature”
2️⃣ the Network for Greening the Financial System, a coalition of central banks and financial supervisors measuring the financial risks of biodiversity loss 2/7
1️⃣ the European Business and Nature Platform, which brings businesses together around “valuing nature”
2️⃣ the Network for Greening the Financial System, a coalition of central banks and financial supervisors measuring the financial risks of biodiversity loss 2/7