Thread by @greenfinanceobs

Nature's financialisation lobby latest disingenuous narratives and tactics involve pushing governments to help create demand for #biodiversity #offset markets, and dropping the #offset claim in appearance only, in order to reduce legal liability: 1/11
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The latest report from the taskforce on nature markets lobby group openly advocates for the "imposition of a nature / #biodiversity tax and trading system" as a "potential legal enablers for scaling biodiversity credit #markets." 2/11

"The proceeds from the tax could then be applied by the government to fund the purchase of biodiversity credits from projects in accordance with government priorities. This approach would serve as an incentive for corporates to reduce their negative impacts on nature... 3/11

...while also providing the government with funding to invest in biodiversity protection, regeneration and stewardship outcomes in priority areas through #biodiversity credit markets." 4/11

In other words corporates destroying nature would pay a tax, whose proceeds will be used to purchase tradable biodiversity credits linked to restoration projects. So this is offsetting, without the official claim of offsetting, and this is very cunning & smart, because... 5/11

You get to create an offset market, but no longer have to worry about equivalences, additionality and potential legal liabilities, such as Shell being "reprimanded twice by the national consumer protection agency for advertising ‘CO2-neutral’ car petrol 6/11

...& claiming the use of carbon credits as ‘CO2 compensation’.107 Dutch airline KLM is also facing a court action for violating consumer law with its ‘CO2 compensation’ marketing." 7/11

Note also that such a tax would mean that biodiversity credits markets become compliance markets, i.e. no longer voluntary but with demand guaranteed by law, a massive present to private investors. 8/11

The report also promotes international biodiversity credit markets, rather than national ones, with the well-known related risks of green colonialism seen with Kyoto carbon markets. 9/11

And of course, such a tax would distract from environmental regulations mandating a decline in destruction at home, and here lies its real political purpose. 10/11

A picture being worth a thousand words :) 11/11