Debunking Biodiversity Credits,
the Next Wave of Bio-Imperialism
New report by Navdanya International
In the name of biodiversity “conservation” and “protection”, the corporate sector is increasingly making calls for the financialisation of nature. The financialisation of nature continues the harmful legacy of bio-imperialism. These mechanisms, which include schemes like biodiversity credits and Nature Asset Companies (NACs), represent the latest attempt to extend the old colonial bio-imperialism under the veneer of environmentalism. They aim to commodify entire ecosystems and all ecological functions of nature, particularly in biodiversity-rich territories that are often the ancestral lands of indigenous peoples or small farmer communities.
This financialisation of nature is not a solution but a continuation of the historical exploitation, commodification and extraction of natural resources which are part of a broader paradigm of conquest and extraction. It does not disrupt and challenge the status quo and socio-ecological-political imbalances and injustices in the world.
One of the false solutions that this report dives deep into is biodiversity credits. These represent a scheme which finances biodiversity actions through the creation, sale and exchange of biodiversity ‘units’. This report debunks five major false narratives around biodiversity credits that offer false solutions to false problems.
The first false narrative is that “Biodiversity credits will protect biodiversity”. Biodiversity credits are driven by the sole aim of generating profits, not creating meaningful action that disrupts the status quo responsible for the biodiversity loss in the world. It will not protect biodiversity.
The second false narrative is that “Biodiversity credits are not offsets”. Both credits and offsets are identical and the only difference is use. Green Finance Observatory points out that “there is no credible use for biodiversity credits outside of offsetting”.
The third false narrative at the foundation of financialisation of nature is that “Market mechanisms have superior outcomes over traditional regulation”. Markets have not protected biodiversity. Today, 80% of the world’s biodiversity resides in the 22% of land that is stewarded by Indigenous people. Their economies of care have outperformed economies of greed and markets, which have promoted deforestation, monocultures, and biodiversity loss.
The fourth false narrative is that “Biodiversity credits will generate additional incomes for local populations''. These schemes, instead of generating more livelihood will actually lead to more land grabbing [lxvii], more human rights violations and increasingly volatile farmer incomes.
The fifth false narrative perpetrated by the private sector/financial markets is that “only financialisation will save biodiversity”. This is a colonial sleight of hand which erases the far more superior and effective realities, legacies and lineages of small farmers, women, indigenous peoples and multiple cultures protecting and stewarding biodiversity and the complex web of life encompassed in their local ecosystems. It is crucial to dismantle the assumption that the only way forward is through the very mechanisms that have historically plundered and commodified nature.
To genuinely address the biodiversity crisis, we must fundamentally transform our relationship with the Earth and its diverse life forms. Regenerating biodiversity is not merely a matter of “conservation”. It’s about rekindling our intrinsic connection with the Earth, producing food in harmony with nature, and nurturing the ecosystems that sustain life. This is the path of bio-democracy. To truly preserve and regenerate biodiversity, we must see the recentering of economies to be local, circular, and regenerative, in line with ecological rhythms and boundaries that support these symbiotic relationships.
Just as we need biodiversity to sustain healthy ecosystem functions, and just as there is a vast amount of different landscapes, ecologies, species and species arrangements we need a diversity of ways to tend to them. It is necessary to preserve the communities that allow biodiversity to flourish by recognising and supporting these stewards and cultures that have long existed on this Earth in peace. Women and farmers keep systems of biodiversity alive. Indigenous knowledge systems arise out of a deep and long understanding of the ecological principles of Nature’s Law and ecological sustainability. They have preserved and ensured healthy living systems and their peoples’ survival down through the ages.
The defense of biodiversity is now more important than ever, as it represents the defense of our relationship to life itself.
Our current biodiversity crisis is a stark reminder of the need to fundamentally rethink our relationship with nature. There is a profound interconnectedness of biodiversity and cultural diversity, and indigenous communities play a vital role local in safeguarding our planet’s ecosystems. The financialisation of nature dangerously commodifies the natural world and undermines genuine conservation efforts.
It is imperative to shift away from exploitative, market-driven mechanisms that prioritize profit over ecological integrity. Instead, we must embrace holistic, ecological approaches that honor the intrinsic value of nature and the wisdom of those who have lived in harmony with it for millennia.
By understanding and supporting these perspectives, we can resist the false solutions of bio-imperialism and work towards a future where biodiversity is celebrated and protected as the foundation of life itself. This commitment to ecological sustainability, biodiversity, and social justice is at the heart of Navdanya International’s mission, and we invite you to join us in this vital endeavor.
This webinar, moderated by Ruchi Shroff, International Director of Navdanya International, featured Dr. Vandana Shiva, President of Navdanya International; Dr. Jessica Hutchings of Papawhakarirtorito Trust, New Zealand; Frederic Hache of Green Finance Observatory, Brussels; and Silvia Francescon of the Italian Buddhist Union. The webinar highlights the intrinsic connection between biodiversity and life, emphasizing that biodiversity should not be commodified. It features insights from various experts and activists who discuss the importance of preserving biodiversity through sustainable practices and respecting indigenous knowledge. The webinar reinforces the idea that biodiversity is foundational to life itself and must be protected through holistic and ecological approaches rather than market-driven mechanisms.
This article delves into the alarming trend of financialising nature through mechanisms such as biodiversity credits and Nature Asset Companies (NACs). These market-based solutions are critiqued for perpetuating a colonial mindset, viewing nature merely as a resource for extraction and financial gain. The article outlines how these schemes, under the guise of conservation, allow financial institutions to decide what aspects of nature hold value, thereby ignoring and devaluing essential ecological communities and ecosystems. It emphasizes the need for an ecological approach that values nature intrinsically rather than economically.
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