We find that Verra’s proposed framework is based on problematic underlying assumptions and framing. Private nature markets represent a privatization of conservation and a potentially significant transfer of wealth and power from the public sphere to a private sector that has no mandate to prioritize long term ecological considerations and the public interest.
We also find that nature credits also lack a clear business case outside of offsetting, and that many of the proposed use-cases do not require tradable financial instruments nor markets.
We conclude that such schemes should remain at best voluntary initiatives and not become compliance markets.
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