Commodifying and Privatising Nature: RIO+20 and the greenwashing of the global economy | BIODIVERSITY IS LIFE  – |

The focus on technologies is problematic because of the types of controversial new technologies that are promoted, including biomass incineration, synthetic biology, nanotechnology, etc. Nuclear and GMOs are not explicitly endorsed, but would fit with the approach.

The market-based approach has been heavily criticised by NGOs as it would mean assigning private property rights to nature, commodifying and privatising nature. Leaving nature to the market would undermine the opportunities of communities and states to protect the commons. Also the bitter lessons from the carbon trading debacle seem to be entirely ignored when UNEP proposes tradeable biodiversity credits. The UNEP reports exposes a misguided belief in markets, which is astonishing after the financial crisis. It is as if that example of the chronic failure of deregulation and market-based approaches had never happened.