Exploring Private Sector Intentions for Nature-Based Reporting in the Caribbean

Abstract

Nature-based reporting is gaining prominence as businesses face increasing pressure to disclose their environmental impacts and dependencies. However predominantly in the Caribbean, ecosystems are both vital to economic stability and highly vulnerable to degradation. Yet, corporate engagement in nature and biodiversity reporting remains limited. This study uses the Theory of Planned Behaviour (TPB) to analyse psychological and organizational factors influencing firms’ intentions to adopt nature-based reporting. Using survey data from business leaders across multiple industries, a hierarchical multiple regression model was employed to assess the effects of attitude, subjective norms, perceived behavioural control, and sustainability commitment on reporting intentions. The results suggest that perceived behavioural control is the strongest predictor, emphasizing the role of internal capacity and feasibility in shaping reporting behaviour. Sustainability commitment also plays a significant role, indicating that firms with stronger internal environmental commitments are more likely to engage in reporting. In contrast, subjective norms exert a weaker influence, and attitude alone is insufficient to drive reporting behaviour. These findings suggest that enhancing firms' technical capacity and embedding sustainability into corporate strategy may be more effective than relying solely on external pressures. This study provides insights for policymakers, regulators, and industry leaders seeking to strengthen environmental disclosure in the Caribbean.