Purpose – The paper aims to enhance corporate biodiversity management (CBM) by developing a conceptual framework that bridges biodiversity accounting and stakeholder engagement, while also outlining a future research agenda. This integration could improve biodiversity accounting by incorporating a diverse range of stakeholders. Design/methodology/approach – This research employs a systematic literature review to investigate the current state of biodiversity accounting and stakeholder engagement literatures. Findings – Our findings reveal persistent challenges in biodiversity accounting, including conceptual and methodological concerns, alongside a lack of sufficient practical implementation. By addressing these challenges, stakeholder engagement has the potential to catalyze a substantial change in biodiversity accounting, thereby enhancing CBM. Research limitations/implications – Based on the proposed conceptual framework, we suggest future research propositions aimed at fostering a holistic integration of stakeholder engagement into biodiversity accounting research and practice, which can enhance future research on CBM. Practical implications – This review provides insights into potential avenues for stakeholder engagement in accounting practices, such as strategic partnerships and mutual capacity building, promoting a better integration and mainstreaming of biodiversity in corporate management. Social implications – Enhanced mutual learning on biodiversity between corporates and stakeholders can improve the inclusivity and transparency of accounting practices. This motivates stakeholder engagement and encourages businesses to adopt meaningful accounting practices related to biodiversity. Originality/value – Stakeholder accountability serves as a connecting theoretical link for enhancing CBM. A stakeholder-oriented approach to CBM can facilitate multidimensional accounting. Our framework integrates stakeholder engagement into biodiversity accounting, providing a roadmap for researchers and practitioners to navigate future research and policy-making related to biodiversity.