By various - Carbon Trade Watch, December 2015
Over twenty years have passed since governments within the United Nations Framework Convention on Climate Change (UNFCCC) began to discuss the impending climate crisis. Year after year, we witness the talks moving further away from identifying the root causes of climate change while the increasing impacts affect even more peoples and regions. Every meeting has given more space for corporate involvement and less to the voices of those directly affected by these climate policies. Despite the promoters’ fancy “green” campaigns and videos, the main focus at the climate negotiations continues to be about saving the free-market economy for those who are holding the cards – the biggest transnational corporations and financial institutions. The same corporations that are largely behind the destruction of forests, rivers, diversity, territories – as well as the violation of human and collective rights and so on – are also the main polluters and plunderers of the Earth.
The climate crisis poses a real threat to the current economic model which is based on the continuous extraction and production of fossil fuels, hydrocarbons and “natural resources” such as land, minerals, wood and agriculture. If talks were to seriously address climate change, there would need to be a discussion on the many ways to support the hundreds of thousand of small-scale farmers, fishers, Indigenous Peoples, forest-dwelling communities and others whose territories and livelihoods are at risk from capital expansion, and how to transition to different economic systems where fossil fuels could be kept underground; where the consumption “mantra” would shift towards more local, diverse and collective discourses and practices. However, the hegemonic and colonial powers are once more violently closing doors, creating more “structural adjustments” and, ultimately, harming the people who are the least responsible for current and historical pollution levels suffering the most from the impacts.
The fallacy that we can continue with the same economic model is irremediably flawed, bankrolled by big polluters, and intrinsically linked to land and livelihoods grabbing, especially in the Global South. Nonetheless, mechanisms like carbon markets, which expand the extractivist and free-market logic, continue to be promoted as unilateral, program- matic “solutions” to mitigate climate change and address deforestation and biodiversity loss. From carbon trading to forests and biodiversity offsets, the climate crisis has been turned into a business opportunity, worsening the already felt impacts, especially for those who are the least responsible. Debates over molecules of carbon being accounted for and “moved” or “stored” from one location to the other detracts from the necessary debates on shifting away from extraction, unjust power structures and oppression. While being fully informed of the causes of climate change, international climate negotiations strive to ensure that the hegemonic economic model expands and rewards polluters.
The consequence is that “climate policies” (aka economic policies) finance the most destructive industries and polluters, often destroying genuinely effective actions that support community livelihoods and keep fossil fuels in the ground. Moreover, these policies further the “financialization of nature” process, which presupposes the separation and quantification of the Earth’s cycles and functions – such as carbon, water and biodiversity – in or-der to turn them into “units” or “titles” that can be sold in financial and speculative markets. With governments establishing legal frameworks to set these markets in place, they also have provided the financial “infrastructure” for negotiating financial “instruments”, by using derivatives, hedge funds and others. While financial markets have a growing influence over economic policies, the “financialization of nature” hands over the management to the financial markets, whose sole concern is to further accumulate capital.
Read the report (PDF).