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Nature-Based Solutions

Wall Street’s Latest Scheme Is Monetizing Nature Itself

A month before the 2021 United Nations Climate Change Conference (known as COP26) kicked off in Scotland, a new asset class was launched by the New York Stock Exchange that will “open up a new feeding ground for predatory Wall Street banks and financial institutions that will allow them to dominate not just the human economy, but the entire natural world.” So writes Whitney Webb in an article titled “Wall Street’s Takeover of Nature Advances with Launch of New Asset Class”: Called a natural asset company, or NAC, the vehicle will allow for the formation of specialized corporations “that hold the rights to the ecosystem services produced on a given chunk of land, services like carbon sequestration or clean water.” These NACs will then maintain, manage and grow the natural assets they commodify, with the end goal of maximizing the aspects of that natural asset that are deemed by the company to be profitable.

257 Groups Say No To ‘Nature-Based Solutions’

In a statement released today, 257 organisations, networks and movements and 78 individuals from 61 countries say no to “nature-based solutions”. The statement warns that “nature-based dispossessions” and harmful practices such as monoculture tree plantations and industrial agriculture lurk behind the “nature-based solutions” marketing front that the UK government, the world’s biggest corporate polluters and the conservation industry are peddling at the UN climate conference in Glasgow, Scotland. “The climate damage caused when corporations keep releasing greenhouse gases into the atmosphere cannot be offset through planting trees, protecting forests, restoring soils or tweaking industrial farming practices”, says Focus on the Global South.
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