There is accelerating momentum around corporate biodiversity impact measurement, with a proliferation of initiatives and methods now available, especially for biodiversity footprint assessments. At the same time, there is a growing recognition that not all approaches are equal, and that some level of standardization and quality control is required. The Biological Diversity Protocol (BD Protocol) aims to address this challenge. It constitutes the first accounting framework that helps organizations identify, measure, record, consolidate and report on the periodic and accumulated changes in the state of biodiversity, through double-entry bookkeeping (DEBK). The goal is to enhance the completeness, accuracy and comparability of biodiversity impact information, for internal reporting and external disclosure. This position paper is an output of the Biodiversity Disclosure Project. It intends to clarify several key issues regarding the quality, credibility and uses of biodiversity footprint assessments, within a biodiversity accounting context, for various business applications. From the forthcoming CBD Post 2020 Global Biodiversity Framework, these issues need to be addressed to avoid corporate greenwashing, notably in the context of growing calls for nature positive targets.