As global temperatures continue to rise, carbon offsetting is being increasingly used as a way to continue ‘green’ capitalism, allowing corporations to purchase carbon credits even as they continue to pollute with no limits. However, carbon-offsetting is now also being used to justify land expropriation as a new form of ‘green’ imperialism. For instance, multinational corporations have for decades been legally seizing indigenous lands for their own purposes, disenfranchising people who have lived off those lands for decades, cutting off access to basic survival needs like water, food, and livelihood. A similar process of land expropriation is now being used to develop new carbon offsetting projects that can be traded on the carbon market. These projects, however, can have horrific environmental impacts whose tangible effects fall on the same landless people. Both the November 2022 United Nations Biodiversity Conference and the current COP15 meeting acknowledge the role of indigenous people in protecting biodiversity, but no serious action can be taken without acknowledging capitalism’s destructive tendency to commodify and sell nature for profit.
The restructuring capability of blockchain and the concept of carbon credits.
Blockchain technology is being used to create a more transparent and efficient carbon credits market. The global carbon credit market...