Carbon estates and NFTs: the land rush and financialization of nature in the southern Amazon basin
DOI:
https://doi.org/10.36920/esa32-2_st09Keywords:
Financialization, Amazon, carbon credits, NFTAbstract
This text reflects on Amazonian development based on two ongoing situations involving forest financialization currently underway on rural properties in southern Amazonas (Lábrea, Pauini and Apuí). We examine compensation schemes for reducing emissions from clearing and degradation of forests (known locally as REDD+) and new conservation practices in a region where deforestation is advancing significantly. The first case involves an area in the process of demarcation as an Indigenous territory which was sold to a company that since 2021 has been selling non-fungible tokens (NTFs) backed by real local fauna and flora items as a type of virtual currency to protect Amazonia. The second case involves societies of farmers forming to certify thousands of hectares of preserved areas to sell carbon credits. Our goal is to point out the current dynamics of the land market for the agricultural frontier in southern Amazonia that are resulting from new possibilities for profit arising from the financialization of environmental protection in areas of the Amazon hit hard by deforestation.
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Copyright (c) 2024 Thereza Cristina Cardoso Menezes
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