An independent think tank researching the financialisation of environmental policies
We welcome the opportunity to express our views on this very important document, that aims at promoting biodiversity credit markets “with social safeguards.” What makes this document crucially important is that it is issued by the Community Advisory Panel (CAP) of the Biodiversity Credit Alliance (BCA), a self-governed body of over 40 Indigenous Peoples and …
Continue reading "GFO’s comments on the Biodiversity Credit Alliance consultation"
Biodiversity credits and markets are not a new idea at all, having been promoted for more than a decade by a few economists, lobbies, and institutions. Academic literature has already amply demonstrated that biodiversity credits and markets are problematic concepts, as they rely on an alleged monetary valuation of nature using old contested methodologies, as …
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 …