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WATCH: Justin Leroy: Race, Finance, and the Afterlife of Slavery [Social Impact Bonds]

WATCH: Justin Leroy: Race, Finance, and the Afterlife of Slavery [Social Impact Bonds]

Art and EducationWhitney Museum of American Art

Filmed March 29, 2017

 

Justin Leroy presents on the overlapping histories of race and financial innovation, from slave insurance to social entrepreneurship, in conjunction with Cameron Rowland’s project for the 2017 Whitney Biennial. Leroy teaches nineteenth-century U.S. history at the University of California, Davis; his book Freedom’s Limit: Racial Capitalism and the Afterlives of Slavery, is forthcoming from Columbia University Press. — Whitney Museum of American Art

 

We cannot unthink our relations to property and the ways in which we govern and justify those bonds without also thinking of racialized capitalism and the afterlife of slavery, as Justin Leroy so eloquently does here. Our work is not so simple a matter as to lament that if we could only move from object/property to subject/human, then we could claim to have uprooted the logics which maintain dominance over our capacity to relate, and by proxy produce something like a life. We must also place these logics and practices within a historical continuum as a way to understand how they remain animate after their alleged abolition. [February, 2019]

Bonded Life, Technologies of racial finance from slave insurance to philanthrocapital

Abstract: “Amid public critiques of Wall Street’s amorality and protests against sharpening inequality since the financial crisis of 2008, the emergent discourse of philanthrocapitalism – philanthropic capitalism – has sought to recuperate a moral centre for finance capitalism. Philanthrocapitalism seeks to marry finance capital with a moral commitment to do good. These strategies require new financial instruments to make poverty reduction and other forms of social welfare profitable business ventures. Social impact bonds (SIBs) – which offer private investors competitive returns on public sector investments – and related instruments have galvanized the financialization of both public services and the life possibilities of poor communities in the USA and the Global South. This article maps new intrusions of credit and debt into previously unmarketable spheres of life, such as prison recidivism outcomes, and argues that contemporary social finance practices such as SIBs are inextricable from histories of race – that financialization has been and continues to be a deeply racialized process. Intervening in debates about the social life of financial practices and the coercive creation of new debtor publics, we chart technologies meant to transform subjects considered valueless into appropriate, even laudable, objects of financial investment. Because their proponents frame SIBs as philanthropic endeavours, the violence required to financialize human life becomes obfuscated. We aim to historicize the violence of financialization by drawing out links between financial capitalism as it developed during the height of the Atlantic slave trade and the more subtle violence of philanthropic financial capitalism. Though the notion that slaves could be a good investment – both in the profitable and moral sense of the word – seems far removed from our contemporary sensibilities, the shadow of slavery haunts SIBs; despite their many differences, both required black bodies to be made available for investment. Both also represent an expansion to the limits of financialization.”

[Zenia Kish & Justin Leroy (2015) Bonded Life, Cultural Studies, 29:5-6, 630-651, DOI: 10.1080/09502386.2015.101713]

Bonded Life Technologies of Racial Finance from Slave Insurance to Philanthrocapital

 

Campaign Announcement: NO Deal For Nature | Stop the Corporate Capture of the Commons

Campaign Announcement: NO Deal For Nature | Stop the Corporate Capture of the Commons

February 9, 2020

 

Illustration: Betrayal, artist Mario S. Nevado

A new international campaign has been launched which alleges the WEF is guilty of spearheading a bid by corporations and financial institutions to “monetize” nature on a global scale.

It is calling on people across the world to hold public meetings, disseminate information, form local campaign groups  and “to take whatever action is necessary” to halt the so-called “New Deal for Nature”.

An online statement from the “No Deal for Nature” alliance [1], whose slogan is “life is not a commodity”, has already won the support of several academics and campaigners.

It warns that “under the guise of environmental protection” a massive exploitation scheme is in fact being drawn up, with the aim of maintaining the current wealth and power transfer from the poor to the rich.

The WEF boasted on its own website that “young climate activists, including Greta Thunberg” would be attending the Davos event in Switzerland from January 21. [2]

WEF stated it would be discussing “how to address the urgent climate and environmental challenges that are harming our ecology and economy” and “how to transform industries to achieve more sustainable and inclusive business models”.

However, the WEF also revealed it would be examining “how to govern the technologies driving the Fourth Industrial Revolution so they benefit business”. [3]

The package of policies known as the “New Deal for Nature” is being promoted not only by the WEF, but also by  the United Nations (UN), [4] the World Bank [5] and the controversial World Wildlife Fund (WWF).[6]

The UN has admitted it wants to “advance a new political agenda” involving “increased promotion of innovative financing that supports green infrastructure”. [7]

The new campaign describes this agenda as a “monstrous and unprecedented assault on our living world by the capitalist system”.

It warns that nature and humanity alike will suffer, with the threat of “further Indigenous displacement and genocide”.

The campaigners conclude: “The NDFN must be stopped. We call on all those who care about nature to speak out now”.

 

[1] http://nodealfornature.org

[2] https://www.weforum.org/agenda/2020/01/davos-abandon-fossil-fuel-economy-climate-change-greta-thunberg/

[3] http://www3.weforum.org/docs/WEF_AM20_Overview.pdf

[4] https://truepundit.com/al-gore-un-officials-team-up-to-push-a-new-deal-for-nature/

[5] https://blogs.worldbank.org/voices/five-ways-help-nature-help-us

[6] https://wwf.panda.org/wwf_news/?339010/A-new-deal-for-Nature-and-Humanity

[7] http://wedocs.unep.org/bitstream/handle/20.500.11822/28333/NewDeal.pdf

 

CONTACT: nodealfornature@protonmail.com

Twitter:

 

5 reasons to say “no” to the New Deal For Nature

  1. Conceived of by vested interests. The “The New Deal For Nature” (NDFN) is being drawn up by the world’s most powerful corporations, financial institutions, and conservation NGOs, including WWF. WWF has been complicit in human rights abuses for years. At the helm of the NDFN is the World Economic Forum which entered into partnership with the United Nations on June 13, 2019.

 

  1. Undemocratic. The NDFN is being negotiated without any participation from the wider public. The deal will be concluded at the UN Convention on Biological Diversity (CBD) conference in Beijing in October 2020 without any vote by our local, regional or national parliaments, bypassing full democratic scrutiny.

 

  1. Represents the corporate coup of the commons. During negotiations on free trade agreements such as TTIP and CETA, we saw how our governments work hand-in-hand with multinational corporations to hand over even more power to big business, privatising more public services. Now nature is up for grabs. Under the guise of taking action on the climate and ecological crises, what the NDFN entails, in practice, is the financialization and privatisation of nature (defined as “ecosystem services”, “natural capital”, “natural climate solutions” or “nature-based solutions”)— global in scale. Assigning monetary value to nature enables industries such as the fossil fuel industry to continue polluting as long as they commit to engaging in net zero activities such as offsetting carbon emissions by planting trees, or by “restoring” nature.

 

  1. Rescues the very system destroying nature. The NDFN would involve the total transformation of the global economic system to create new markets, thereby salvaging the failing global economic capitalist system that has brought us to the brink of ecological catastrophe.

 

  1. Harms those best placed to protect biodiversity. The NDFN would threaten the further displacement and genocide of Indigenous and tribal peoples as global corporations and conservation NGOs seek control of their lands to maintain hegemony under the guise of tackling climate change and restoring nature. This represents a new wave of colonisation, for peoples in the Global South in particular.

 

Further resources to learn more about the New Deal For Nature:

The Manufacturing of Greta Thunberg – For Consent: The Green New Deal is the Trojan Horse for the Financialization of Nature [Volume I, Act V], an investigative report by Cory Morningstar http://www.wrongkindofgreen.org/2019/02/13/the-manufacturing-of-greta-thunberg-forconsent-the-new-green-deal-is-the-trojan-horse-for-the-financialization-of-nature/

The Manufacturing of Greta Thunberg – A Decade of Social Manipulation for the Corporate Capture of Nature [Volume I, Act VI – Crescendo], an investigative report by Cory Morningstar http://www.wrongkindofgreen.org/2019/02/24/the-manufacturing-of-greta-thunberg-adecade-of-social-manipulation-for-the-corporate-capture-of-nature-crescendo/

The Manufacturing of Greta Thunberg – For Consent: To Plunder What Little Remains: It’s Going To Be Tremendous [Volume II, Act III], an investigative report by Cory Morningstar http://www.wrongkindofgreen.org/2019/09/15/the-manufacturing-of-greta-thunberg-forconsent-to-plunder-what-little-remains-its-going-to-be-tremendous-volume-ii-act-iii/

The Manufacturing of Greta Thunberg – For Consent: They Mean Business [Volume II, Act IV], an investigative report by Cory Morningstar http://www.wrongkindofgreen.org/2019/09/17/the-manufacturing-of-greta-thunberg-forconsent-they-mean-business-volume-ii-act-iv/

To learn more about the issue of monetising nature: Climate Capitalists, a page created by Winter Oak Press providing links to over 50 resources in various formats and languages https://winteroak.org.uk/climate-capitalists/

Accumulation by Restoration: Degradation Neutrality and the Faustian Bargain of Conservation Finance, an intervention by Amber Huff of the Institute of Development Studies and STEPS Centre, University of Sussex and Andrea Brock of the University of Sussex in the journal Antipode Online https://antipodeonline.org/2017/11/06/accumulation-by-restoration/

Guatemala: Petén at the center of the sustainable development plans of the NGOs, an investigative report by Aldo Santiago in Avispa Midia
https://avispa.org/peten-at-the-center-of-the-sustainable-developments-plans-of-the-ngos/  

Guatemala: Carbon, the Metric of Displacement in Petén, an investigative report by Aldo Santiago in Avispa Midia
https://avispa.org/guatemala-carbon-the-metric-of-displacement-in-peten/

Banking Nature, a documentary by Denis Delestra and Sandrine Feydel http://www.wrongkindofgreen.org/2019/10/30/watch-banking-nature/

To learn more about WWF’s human rights abuses: WWF Silence of the Pandas, a documentary by Wilfried Huismann
http://www.wrongkindofgreen.org/2013/07/22/watch-wwf-silence-of-the-pandas-a-journeyinto-the-heart-of-the-green-empire/

Victim of the WWF, a documentary by Zembla
http://www.wrongkindofgreen.org/2019/06/04/watch-victim-of-the-wwf-world-wildlife-fund/

 

 

The Militarisation & Marketisation of Nature: An Alternative Lens to ‘Climate-Conflict

The Militarisation & Marketisation of Nature: An Alternative Lens to ‘Climate-Conflict

November 2014

“The Militarisation & Marketisation of Nature: An Alternative Lens to ‘Climate-Conflict”

By ALEXANDER DUNLAP, Global Studies, University of Sussex, Brighton, UK & JAMES FAIRHEAD, Anthropology, Justice and Violence Research Centre, International Development, University of Sussex, Brighton, UK

 

“Policies addressing climate change are driving major transformations in access to global land, forests and water as they create new ‘green’ markets that reinforce, and attracts the financial grid and its speculators. This leads us to examine the rise of state violence and subsequent environmental policies in forests, transferring into both ‘fortress’ and ‘participatory’ conservation, enhancing this relationship with new environmental commodity markets. We go on to document how the new and intensifying commodification of the environment associated with climate change is manifest in conflicts linked to the UN-REDD+ programme, industrial tree plantations (ITPs), and land-use practices associated with conservation and biofuels. We trace conflicts to business practices associated with land acquisitions and mining practices which claim to address climate change and mitigate ecological crises. This paper thus grapples with systemic issues of the modern industrial economy and the mechanisms legitimising and advancing the militarisation and marketisation of nature.”

 

Bolivia’s President Evo Morales who was forced to resign during a horrific coup d’état that took place on November 10, 2019. With an estimated 9,000,000 tons, Bolivia holds about 43% of the world’s known lithium reserves. Lithium is the backbone of a “Global Green New Deal – the popular term for the Fourth Industrial Revolution (as sought by World Economic Forum, now partnered w/ the UN) The Lithium ABC countries are — A-rgentina B-olivia & C-hile. Photographer: STR/AFP via Getty Images

INTRODUCTION

There is more to ‘climate and security’ than worrying whether people fight more in increasingly bad weather. Policies addressing climate change are driving major transformations in access to global land, forests and water as they create new commodities and markets for carbon, biofuels, biodiversity and climate-secure food. The emergence of these new ‘climate change commodities’ reinforces, and also attracts the financial grid and its speculators. What interests us in this paper is how the advent and expansion of these new commodities and their markets generate or prolong conflicts. ‘Climate conflicts’ become manifest in these new economic and political orders that, we argue, arise around these markets, driving ‘land grabs’, ‘water grabs’ and ‘green grabs’, and which are further animated by food and energy securitisation in the face of new climatic threats.

It is our contention, then, that pressing links between climate change and security are to be perceived through these mitigation markets and the resource capture and militarisation associated with them. It is our worry that
current discourses that ‘securitise’ climate change are actually part and parcel of these markets, and thus play a part in bringing about the very insecurities that they might purport to address. Moreover, these discourses nourish these new global ‘green’ markets that remain dependent on resource intensive structures and a military-industrial complex to police them. Climate Security, in the tradition of mainstream development, assumes the continuation of the industrial and financial economy as the implicit reason for mitigation and adaptation, and fails to address, or even acknowledge at times, the inherent environmental insecurity and widespread degradation built into this industrial economy. The popular and widespread belief that environmental  degradation and climate change directly induces and intensifies conflict, thus risks creating a self-fulfilling prophecy in a second way by extending and intensifying the existing political and industrial economic relationships dependent on growth imperatives and the subsequent consumption and usurpation of the natural environment.

To proceed, we review literatures on climate-conflict/security to render visible the violence in land frontiers. We then examine the rise of state violence and subsequent environmental policies in forests and protected areas,
and how these relationships transfer into both the ‘fortress’ and ‘participatory’ conservation, that are now enhanced by ‘green’ or environmental commodity markets. We go on to document how the new and  intensifying commodification of the environment associated with climate change is manifest in land conflicts linked to the UN-REDD+ programme, industrial tree plantations (ITPs), and land-use practices associated with conservation and ‘offsetting’.

We trace conflicts to business practices associated with land acquisitions and mining practices which claim to address climate change and mitigate ecological crises – expanding our analysis to embrace such Orwellian concepts as ‘sustainable mining’ and ‘green uranium’. This paper thus grapples with systemic issues of the modern industrial economy and the mechanisms legitimising and advancing the militarisation and marketisation of nature.

These concerns are generally pushed to the margins, if not neglected in their entirety by the climate conflict debate, requiring immediate reflection and thoughtful action.

  • Climate Conflict and the Problem of Political Economy
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  • COUNTERINSURGENCY AT THE CONJUNCTURE OF STATE AND NATURE: POLITICAL FORESTS
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  • With Devastation Comes (Market) Opportunity: ‘Green’ Markets and Land Control
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  • Self-Fulfilling Climate-Conflict?
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    Download the paper: The_Militarisation_and_Marketisation_of

     

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