There is a long history of putting a price on parts of nature. The centuries-old corporate rush for prized timber and land has led to the loss of forests on a large scale and the violation of communities’ rights. So-called "ecosystem services," such as the role that forests play in ecosystems, are a new way of monetizing and trading in nature. The result is greater dispossession of forest-dependent communities and ongoing corporate destruction of community territories.
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The UN Land-Grabbing Summit in Glasgow made it once again clear that these spaces will never advance the already existing solutions to the climate crisis.
Suzano, the world’s largest producer of eucalyptus pulp, is seeking to intensify its operations with so-called ‘green bonds’ as a way to finance its expansion projects.
For the world’s richest men, the environmental crisis has finally arrived. From fleeing into outer space or fantasylands to science-fiction solutions, capitalists desperately seek fossil-fuelled business as usual to continue.
Polluting corporations tell stories about reaching “Net-Zero” emissions while planning to continue, or even increase, destruction and exploitation. Offsets are at the centre of these stories. Of late, offsetting is also being championed by the financial industry.
The development narrative continues to be revived despite its role in driving the current crisis and the millions of livelihoods it has destroyed through displacement and dispossession.