References

Theoretical and Empirical Foundations

Framework Foundations and Scientific Advances

• Rockström, J., Steffen, W., Noone, K., Persson, Å., Chapin, F. S., Lambin, E. F., ... & Foley, J. A. (2009). A safe operating space for humanity. Nature, 461(7263), 472-475. https://doi.org/10.1038/461472a
• Steffen, W., Richardson, K., Rockström, J., Cornell, S. E., Fetzer, I., Bennett, E. M., ... & Sörlin, S. (2015). Planetary boundaries: Guiding human development on a changing planet. Science, 347(6223), 1259855. https://doi.org/10.1126/science.1259855
• Stockholm Resilience Centre. (2024). Planetary boundaries 2.0: Systems science, risk, and Earth resilience. https://www.stockholmresilience.org/research/planetary-boundaries.html
• Nature Geoscience. (2025). Anthropogenic geochemical fluxes: New frontiers in the Anthropocene. Nature Geoscience, 18(4), 271-274. https://www.nature.com/ngeo/

Boundary-Specific Updates (2023-2025)

• International Energy Agency. (2025). Global CO₂ status update: Concentration and radiative forcing data. https://www.iea.org/reports/global-co2-status-update
• Science. (2024). Methane clathrate destabilization in the East Siberian Arctic Shelf: Model projections. Science, 383(6672), 801-805. https://www.science.org
• Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services. (2024). Pollination, biodiversity, and food security: New risk models. https://ipbes.net
• European Commission. (2025). Farm nitrogen efficiency and biogeochemical policy targets. https://ec.europa.eu/environment/nature/ecosystems/nitrogen_en.htm
• United Nations Environment Programme. (2025). Global plastics and PFAS thresholds: Policy and treaty implementation. https://www.unep.org/globalplastics
• Global Plastics Treaty. (2024). Treaty text and targets. https://www.unep.org/globalplastics

Safe Operating Space and Systems Risk

• Steffen, W., Rockström, J., Richardson, K., et al. (2023). Planetary boundaries: Risk zones and safe operating space revision. Stockholm Resilience Centre Policy Brief. https://www.stockholmresilience.org
• International Monetary Fund. (2025). Macroeconomic impact of planetary boundary transgressions. IMF Working Paper WP/25/121. https://www.imf.org/en/Publications/WP
• National Renewable Energy Laboratory. (2024). Aerosol loading and solar PV costs: System impacts. NREL Technical Report 24-301. https://www.nrel.gov

Scientific Frontiers and Downscaling Tools

• Proceedings of the National Academy of Sciences. (2025). Machine learning for Earth system boundary interactions. PNAS, 122(14), e241122711. https://www.pnas.org
• International Organization for Standardization. (2024). ISO 14032-2: Environmental management - Alignment with planetary boundaries. https://www.iso.org/standard/86712.html
• World Health Organization. (2025). Synthetic chemicals and revised toxicity thresholds: Science update. https://www.who.int/publications

Policy Integration and Regulatory Trends

• European Parliament. (2025). Corporate Sustainability Due Diligence Directive: Full text and policy analysis. https://www.europarl.europa.eu
• Task Force on Climate-related Financial Disclosures. (2025). TCFD+ Framework: Planetary boundaries disclosure for financial institutions. https://www.fsb-tcfd.org
• European Central Bank. (2025). ECB climate stress test methodology: Biosphere integrity scenarios. https://www.ecb.europa.eu

Systemic Risk and Cross-Boundary Dynamics

• Battiston, S., Mandel, A., Monasterolo, I., Schütze, F., & Visentin, G. (2017). A climate stress-test of the financial system. Nature Climate Change, 7(4), 283-288. https://doi.org/10.1038/nclimate3255
• Bolton, P., Després, M., Pereira da Silva, L. A., Samama, F., & Svartzman, R. (2022). The green swan: Central banking and financial stability in the age of climate change. Bank for International Settlements. https://www.bis.org/publ/othp31.pdf
• Earth Commission. (2024). Safe and just Earth system boundaries. https://earthcommission.org
• European Central Bank. (2025). ECB climate stress test methodology. https://www.ecb.europa.eu
• European Commission. (2025). Corporate Sustainability Due Diligence Directive. https://www.europarl.europa.eu
• IMF. (2025). Planetary boundary transgressions and global growth risk. IMF Working Paper WP/25/121. https://www.imf.org
• Klose, A. K., Winkelmann, R., & Boers, N. (2023). Cascading tipping dynamics in the climate system. Earth System Dynamics, 14(2), 337-351. https://doi.org/10.5194/esd-14-337-2023
• Lenton, T. M., Rockström, J., Gaffney, O., Rahmstorf, S., Richardson, K., Steffen, W., & Schellnhuber, H. J. (2019). Climate tipping points - too risky to bet against. Nature, 575(7784), 592-595. https://doi.org/10.1038/d41586-019-03595-0
• Steffen, W., Richardson, K., Rockström, J., Cornell, S. E., Fetzer, I., Bennett, E. M., Biggs, R., Carpenter, S. R., de Vries, W., de Wit, C. A., Folke, C., Gerten, D., Heinke, J., Mace, G. M., Persson, L. M., Ramanathan, V., Reyers, B., & Sörlin, S. (2015). Planetary boundaries - Guiding human development on a changing planet. Science, 347(6223), 1259855. https://doi.org/10.1126/science.1259855
• Stockholm Resilience Centre. (2023). Planetary boundaries 2023 update. https://www.stockholmresilience.org
• WHO. (2024). Toxic thresholds for novel pollutants and persistent organic chemicals. https://www.who.int
• WMO. (2024). State of the global climate 2024. World Meteorological Organization. https://public.wmo.int

Financial Exposure to Biophysical Risk

• Dasgupta, P. (2021). The economics of biodiversity: The Dasgupta review. HM Treasury. https://www.gov.uk/government/publications/final-report-the-economics-of-biodiversity-the-dasgupta-review
• Earth Commission. (2024). Safe and just Earth system boundaries. https://earthcommission.org
• European Commission. (2025). Corporate Sustainability Due Diligence Directive. https://www.europarl.europa.eu
• IMF. (2025). Planetary boundary transgressions and global growth risk. IMF Working Paper WP/25/121. https://www.imf.org
• IPCC. (2023). AR6 synthesis report: Climate change 2023. Intergovernmental Panel on Climate Change. https://www.ipcc.ch/report/ar6/syr
• Rockström, J., Steffen, W., Noone, K., Persson, Å., Chapin III, F. S., Lambin, E. F., Lenton, T. M., Scheffer, M., Folke, C., Schellnhuber, H. J., Nykvist, B., de Wit, C. A., Hughes, T., van der Leeuw, S., Rodhe, H., Sörlin, S., Snyder, P. K., Costanza, R., Svedin, U., ... & Foley, J. A. (2009). A safe operating space for humanity. Nature, 461(7263), 472–475. https://doi.org/10.1038/461472a
• Stockholm Resilience Centre. (2023). Planetary boundaries 2023 update. https://www.stockholmresilience.org
• UNEP. (2024). Financial stability and planetary boundary risks. United Nations Environment Programme. https://www.unep.org
• WHO. (2024). Toxic thresholds and environmental exposure risks. https://www.who.int
• WMO. (2024). State of the global climate 2024. World Meteorological Organization. https://public.wmo.int

Valuation and Capital Markets Under Constraint

• Dasgupta, P. (2021). The economics of biodiversity: The Dasgupta review. HM Treasury. https://www.gov.uk/government/publications/final-report-the-economics-of-biodiversity-the-dasgupta-review
• Earth Commission. (2024). Safe and just Earth system boundaries. https://earthcommission.org
• IMF. (2025). Planetary boundary transgressions and global growth risk. IMF Working Paper WP/25/121. https://www.imf.org
• UNEP Finance Initiative. (2024). Integrating environmental risk into valuation models. United Nations Environment Programme. https://www.unepfi.org
• WMO. (2024). State of the global climate 2024. World Meteorological Organization. https://public.wmo.int
• Stockholm Resilience Centre. (2023). Planetary boundaries 2023 update. https://www.stockholmresilience.org
• Rockström, J., Steffen, W., Noone, K., Persson, Å., Chapin III, F. S., Lambin, E. F., Lenton, T. M., Scheffer, M., Folke, C., Schellnhuber, H. J., Nykvist, B., de Wit, C. A., Hughes, T., van der Leeuw, S., Rodhe, H., Sörlin, S., Snyder, P. K., Costanza, R., Svedin, U., ... & Foley, J. A. (2009). A safe operating space for humanity. Nature, 461(7263), 472–475. https://doi.org/10.1038/461472a
• IPCC. (2023). AR6 synthesis report: Climate change 2023. Intergovernmental Panel on Climate Change. https://www.ipcc.ch/report/ar6/syr
• Bolton, P., Després, M., Pereira da Silva, L. A., Samama, F., & Svartzman, R. (2022). The green swan: Central banking and financial stability in the age of climate change. Bank for International Settlements. https://www.bis.org/publ/othp31.pdf
• European Commission. (2025). Corporate Sustainability Due Diligence Directive. https://www.europarl.europa.eu

Regulatory, Legal, and Fiduciary Implications

• European Commission. (2025). EU taxonomy for sustainable activities. https://finance.ec.europa.eu
• Taskforce on Nature-related Financial Disclosures (TNFD). (2024). Beta framework v1.4. https://tnfd.global
• Dutch Government. (2023). Nitrogen policy and emissions ceilings in the Netherlands. https://www.rijksoverheid.nl
• Danish Ministry of Environment. (2024). Phosphorus regulation and agricultural caps. https://en.mim.dk
• ECHA. (2025). PFAS restriction proposal under REACH. European Chemicals Agency. https://echa.europa.eu
• UNEP. (2023). Turning the tide on PFAS: Global regulatory actions. United Nations Environment Programme. https://www.unep.org
• LSE Grantham Research Institute. (2024). Climate change litigation database. https://climate-laws.org
• Australian Prudential Regulation Authority. (2024). Guidance on climate-related financial risks. https://www.apra.gov.au
• UK Financial Conduct Authority. (2025). Fiduciary duty and climate risk: Policy update. https://www.fca.org.uk
• European Financial Reporting Advisory Group (EFRAG). (2024). European Sustainability Reporting Standards (ESRS). https://www.efrag.org
• ECB. (2025). Climate and nature-related stress testing framework. European Central Bank. https://www.ecb.europa.eu
• Stockholm Resilience Centre. (2023). Operationalizing planetary boundaries in governance. https://www.stockholmresilience.org
• UNEP FI. (2024). Nature-related risk in sovereign debt markets. United Nations Environment Programme Finance Initiative. https://www.unepfi.org
• UN Convention on Biological Diversity. (2024). Kunming-Montreal Global Biodiversity Framework implementation. https://www.cbd.int

Planetary Boundaries in Financial Strategy and Portfolio Construction

• Rockström, J., Gupta, J., Lenton, T. M., Qin, D., Narain, U., Schmidt, G. A., & Bai, X. (2023). Earth beyond six of nine planetary boundaries. Science Advances, 9(37), eadh2458. https://doi.org/10.1126/sciadv.adh2458
• Stockholm Resilience Centre. (2023). Planetary boundaries framework update. https://www.stockholmresilience.org
• Bressand, A., & Pinner, D. (2024). Sustainable investing: Planetary boundaries as a capital markets constraint. McKinsey Global Institute. https://www.mckinsey.com
• UNEP FI. (2025). Beyond ESG: Aligning investment portfolios with planetary boundaries. United Nations Environment Programme Finance Initiative. https://www.unepfi.org
• BlackRock Investment Institute. (2024). Adapting strategic asset allocation to planetary constraints. https://www.blackrock.com
• Network for Greening the Financial System (NGFS). (2024). Climate scenarios and macro-financial risk. https://www.ngfs.net
• Nature Risk Rising Alliance. (2024). Integrating biosphere and biodiversity into financial analytics. https://www.natureriskrising.org
• OECD. (2025). Biodiversity, natural capital, and financial resilience. Organisation for Economic Co-operation and Development. https://www.oecd.org
• International Network for Sustainable Financial Policy Insights, Research, and Exchange (INSPIRE). (2024). Planetary boundaries and central banking. https://inspiregreenfinance.org
• Capitals Coalition. (2024). Natural capital protocol: Investment and valuation pathways. https://capitalscoalition.org
• Task Force on Nature-related Financial Disclosures (TNFD). (2025). Beta framework guidance: Sector exposure to planetary boundaries. https://tnfd.global

Market Innovation for Safe Operating Space

• TNFD. (2025). Nature-related risk and opportunity management and disclosure framework. Taskforce on Nature-related Financial Disclosures. https://tnfd.global
• UNEP FI. (2024). Rethinking finance: Aligning financial flows with planetary boundaries. United Nations Environment Programme Finance Initiative. https://www.unepfi.org
• Dasgupta, P. (2021). The economics of biodiversity: The Dasgupta Review. HM Treasury. https://www.gov.uk/government/publications/final-report-the-economics-of-biodiversity-the-dasgupta-review
• Rockström, J., Steffen, W., Noone, K., Persson, Å., Chapin, F. S., Lambin, E. F., ... & Foley, J. A. (2009). A safe operating space for humanity. Nature, 461(7263), 472-475. https://doi.org/10.1038/461472a
• World Bank. (2023). Blueprint for biodiversity-linked sovereign debt. https://www.worldbank.org
• Global Canopy. (2024). Innovative finance mechanisms for biodiversity and ecosystem recovery. https://www.globalcanopy.org
• Pollination Group. (2024). Financing nature: Closing the biodiversity finance gap. https://www.pollinationgroup.com
• OECD. (2024). Measuring the economic value of ecosystem services. Organisation for Economic Co-operation and Development. https://www.oecd.org
• Credit Suisse. (2024). Biodiversity and finance: The next frontier in ESG. https://www.credit-suisse.com
• BlackRock Investment Institute. (2025). Reframing returns: Valuing resilience in long-term portfolios. https://www.blackrock.com
• NatureVest & EKO Asset Management. (2024). State of private investment in conservation 3.0. https://www.nature.org/naturevest