ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Capitalisation of Nature

Political Economy of Forest/Biodiversity Offsets

Capitalisation of Nature

Trading in environmental commodities like various forms of "offsets" has started with its questionable premise that any loss or damage to environment at a particular space-time can be offset by a supposedly pro-environmental action in another space-time through the mediation of capital and market. In India, a rather disguised offset process known as compensatory afforestation has taken off under state and judicial patronage quite some time ago. Besides, India also has the strong credential of having hosted a more common form of offset trading in the Clean Development Mechanism. Referring briefly to both but discussing mainly the philosophy and practices of various forms of offset markets in vogue, this article tries to show that this concept is in sync with the evolution of capital and capitalism in history.

Dear reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here


(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top