It is often stated that business has a key role to play in the protection of biodiversity and ecosystems. Various instruments are developed that enable businesses to assess their impact and dependence on ecosystem services. Actual use of these instruments remains limited. This paper uses discourse analysis to explain that this discrepancy can be explained by diverging frames on the role of business. Documents from governments and civil society are analysed to identify how the role of business is framed. This is compared to the business perspective as identified through interviews. Results show that there is some shared ground as different actors use common economic terminology in framing the problem and causes for action. However, there are significant differences of opinion when it comes to the role business and government should play in the protection of biodiversity and ecosystems.