Apr 29
20190
"Net Zero" Biodiversity Carbon Markets Extinction Rebellion IPBES Natural Capital Natural Capital Coalition Offsets Payments for Ecosystems Services (PES) The Financialization of Nature
Trees Don’t Grow on Money – or Why You Don’t Get to Rebel Against Extinction
April 29, 2019
Money doesn’t go on trees, and although people can make money out of trees, they cannot make trees out of money. This much may seem platitudinous, but it is worth keeping in mind.
What is true of trees is true of the natural world as a whole, including the human beings that are part of it. Nature is real; money is an abstraction. If money seems real that is because our institutions and practices are so deeply premised on beliefs in it. There is an important sense in which those institutionalized beliefs – in crediting it with a certain value – make money real; but it is not real in the way the natural world is real. If a bank goes bust, if a whole economy crashes, the social upheaval that follows may be immense, but life goes on – people will pick themselves up and start again (and some people, meanwhile, will likely have found a way to profit from it!). By contrast, if a species goes extinct, if an ecosystem collapses, then there is no prospect – certainly not on human timescales – of a recovery. The threat of extinction to our own species is the ultimate threat.
Extinction Rebellion has given publicity to critically important concerns of our time – the ecological crises as exemplified by dangerous climate change and biodiversity loss.[1] But it also gives rise to some perplexity.
A circumstantial puzzle is how an apparently spontaneous social movement of protest comes to have the energetic backing of big business interests and even to receive notable support from influential sections of the corporate media.
On deeper reflection, what does it even mean to stage a rebellion against extinction? Rebellions usually involve a group of people rising up to protest or overthrow another group that wields unjust or illegitimate power over them. How can you ‘rebel’ against extinction? It is not as if you can choose to disobey the laws of nature.
The website that asserts the copyright © Extinction Rebellion, states certain demands directed at government.[2] The moral clarity of their seemingly simple message, however, could be deceptive.[3]
Two key demands are: “halt biodiversity loss and reduce greenhouse gas emissions to net zero by 2025.”
These may sound like goals that any ethically rational person could wholeheartedly endorse, and yet, as a recent critical study by Cory Morningstar has demonstrated, what their pursuit entails does not necessarily correspond to what people might imagine.[4]
First, reducing greenhouse gas emissions to net zero does not mean eliminating emissions, or even necessarily reducing them at all. It refers to the possibility of engaging in other activities to offset them. The offsetting may be accomplished by various means of technological fixes and/or accounting innovations, but what these means have in common is that they will be profitable to engage in. As was made explicit some years ago in the influential Stern Review of climate economics, a policy approach allowing emissions offsetting creates great opportunities for businesses and the financial sector.
‘Capital markets, banks and other financial institutions will have a vital role in raising and allocating the trillions of dollars needed to finance investment in low-carbon technology and the companies producing the new technologies.’ (Stern 2006: 270)
‘The development of carbon trading markets also presents an important opportunity to the financial sector. Trading on global carbon markets is now worth over $10bn annually’. (Stern 2006: 270)
By attaching a price to carbon, a whole new commodity is created over which the distribution of rights represents a new income stream. So it’s good for shareholder profits, but what about nature? How confident can we be when its protection relies on a new multi-billion dollar market involving the same people responsible for the global financial crisis?
The other key goal, to halt biodiversity loss, sounds like one that should not allow wriggle room for profiteers to game it. And yet, consider for a moment how one might propose – even with the best and purest of intentions – to bring biodiversity loss to a halt. The sheer extent of activities around the world that are undermining habitats and ecological systems is so great and complex, it is hard to conceive what exactly could and should be done, even given determined political will to do it. The proposed policy in reality, therefore, is not literally to stop doing everything we are currently doing that compromises biodiversity. Instead, it once again centres on putting a price on the aspects of nature that market actors attach value to. The premise is that if we accept it is not possible to halt the destruction of biodiversity in some places, it is still possible to protect and even re-create biodiversity in others. Thus, just as with carbon emissions, the ideas of substitution and compensation play a pivotal role: biodiversity loss may not be literally halted, but it can be offset.
And how is biodiversity loss to be offset?[5] Here comes the familiar move: in order to weigh the loss in one place against a putative gain in another they must be subjected to a common scheme of measurement. Biodiversity being something of value, the way to record how much value any instance of it has is taken to be by reference to monetary price. Hence we learn that ‘biodiversity conservation and the related concept of “natural capital” are becoming mainstream. For instance, the Natural Capital Coalition is developing the economic case for valuing natural ecosystems and includes buy-in from some of the biggest players in business, accountancy and consulting. And the financial industry is moving toward more responsible investing.’[6]
Yet this unidimensional quantification of value completely disregards the point that biodiversity is a complex and quintessentially qualitative phenomenon. It is of the essence of biodiversity that its biotic components and their environments are diverse. Being diverse means being different in ways that cannot be reduced to the measure of a single common denominator. Hence the essence of biodiversity is an irreducible plurality of incommensurables. The idea of ‘compensating’ for loss of biodiversity of one kind by the protection or enhancement of biodiversity of another kind elsewhere means disregarding the very meaning of biodiversity.[7]
The idea of biodiversity offsets, then, does not have its rational basis in ecological concern but in the expansionary logic of capitalist profit seeking.
A rebellion that really has any prospect of fending off disaster for our biosphere and ourselves needs to be based on a proper understanding of who and what needs to be rebelled against.
Extinction Rebellion publicity material says that it is apolitical. Yet there is nothing apolitical about the real struggle that is required for people to seize the power currently concentrated in the hands of plutocrats. And to those who say – rightly – that ecological issues are greater than mere politics, it may be responded that this is why we cannot let it be “dealt with” by those who currently so misuse their political power.
Asking governments to enact policies that corporate and financial backers are lining up to draw massive profits from is not what the people protesting against impending ecological disaster have in mind. It needs therefore to be clear that you can’t actually protest against disaster. You need to take on those who are driving us towards it. So you need to know who they are and how they are doing it. It’s a good idea to look carefully at who is shaping the demands you are being enlisted to make, and what exactly they entail.
[1] For other, less discussed but no less significant problems, see Rockström et al. (2009).
[2] Why they are directed at government without reference to the central role of powerful corporations is not completely obvious, and nor is the reason why the site also says the protest is ‘apolitical’, a question to be returned to.
[3] We humans, especially the worst off – and not even to mention members of other species we share the planet with – certainly have powerful reasons for concern at the ecological crises being provoked by our collective global exploitation of the biosphere. But what “we” can do about that is nothing like as clear.
In fact, there is no “we” that can act as a collective. There are multifarious different people, groups, tribes, classes, and nations that have competing interests. “We” are not organized to respond in a concerted, ethical and rational manner.
On the other hand, a very small group of people – who alone command as much of the world’s aggregate resources as half the rest of the world’s population put together – is very well coordinated. At the highest levels of corporations and financial institutions they hold great power. With their immense wealth comes control over those – including politicians, journalists and various “thought leaders” – who exercise greatest influence over publics. Their power to manipulate public perceptions vastly exceeds most people’s awareness of it.
So we – ordinary members of the public, whether old or young – can protest and engage in symbolic actions and go green in aspects of our lifestyle, yet to real little effect. In our heart of hearts we may know this, and yet we may still believe it important to try and to act as we think all should. So when the makings of a real social movement appear, we energetically embrace the opportunity it appears to present for making some more noticeable impact. Hence the enthusiastic welcome of Extinction Rebellion, in which school kids and pensioners have united around the moral and existential cause.
But what sort of ‘rebellion’ is it that is conjured into action by a consortium of corporate-backed organizations and given extensive positive coverage in the corporate media? The commitments and beliefs of the multifarious individuals and groups on the ground are various and sincerely held, and they do tend to converge around something like the headline goals stated in the publicity material ©Extinction Rebellion. But the exact goals being endorsed focus on two very specific demands: “halt biodiversity loss and reduce greenhouse gas emissions to net zero by 2025.” And in this post I am arguing that it is very easy to be misled into thinking these capture what we really want to achieve, whereas in reality they may in fact capture our acquiescence in the further extension of corporate power over the natural world and our own lives.
[4] Morningstar’s set of six articles makes for somewhat demanding reading, and her purposes have sometimes been misunderstood or misrepresented on the basis of apparently rather casual perusal. Certainly, this has been noticeable in comments on Twitter, so I tried to distil some of her key points, without her detail or her critics’ distractions, in a Twitter thread: https://twitter.com/Tim_Hayward_/status/1120748645069021185
[5] Some useful introductory sources are World Rainforest Movement: http://www.wrongkindofgreen.org/tag/green-economy/; Clive Spash 25 minute talk: https://vimeo.com/33921592; and the collection of material here: http://naturenotforsale.org/author/berberv/
[6] Richard Pearson, ‘We have 15 years to halt biodiversity loss, can it be done?’, The Conversation, 26 Oct 2015 https://theconversation.com/we-have-15-years-to-halt-biodiversity-loss-can-it-be-done-49330.
[7] For a pithy presentation of the basic ideas here see the short video ‘Biodiversity offsetting, making dreams come true‘ https://vimeo.com/99079535.
References
Rockström, Johan et al. (2009), ‘A Safe Operating Space for Humanity’, Nature 461: 472–75.
Stern, Nicholas et al. (2006), Stern Review: The Economics of Climate Change, London: HM Treasury.
