Natural Capital: a neoliberal response to species extinction

In this article, Ian Rappel attacks the thinking and ambition behind the drive to attach a monetary value to biodiversity and nature – that it “is being portrayed as a necessary means of translating the environmental message to legislators, business and the markets. This argument for nature ­financialisation—the processes by which banks and financiers have turned to environmental conservation as a new front for speculative investment, and the simultaneous rewriting of conservation to fit banking and financial ­concepts—has gained momentum and acceptance across environmental science and politics during the last decade as economic recession/depression and austerity have dominated global economic architectures.”

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