Financializing Nature Itself
You will find this hard to believe, but people who want greater control over other humans, and want to create financial value out of thin air, developed a new concept that can monetize the land other people own in a new way: by the value of its “ecosystem services.” What is an “ecosystem service”? You may well ask.
Here is how Wikipedia defines this elusive concept and tells us its value:
“Ecosystem services are the various benefits that humans derive from ecosystems. The interconnected living and non-living components of the natural environment offer benefits such as pollination of crops, clean air and water, decomposition of wastes, and flood control. Ecosystem services are grouped into four broad categories of services. There are provisioning services, such as the production of food and water; regulating services, such as the control of climate and disease; supporting services, such as nutrient cycles and oxygen production; and cultural services, such as recreation, tourism, and spiritual gratification. [1] Evaluations of ecosystem services may include assigning an economic value to them.”
Later, Wikipedia explains how much these services are worth to investors:
“An estimated $125 trillion to $140 trillion is added to the economy each year by all ecosystem services.”
Really? There is an untapped $125-140 trillion dollars just waiting to be exploited? What does this mean?
It means that the US government, or private entities called Natural Asset Corporations, or NGOs can put a value on the “ecosystem services” of your property. They can then write a contract to buy some of those services from you and pay you for them. “Great,” you think. “Free money.” Not so fast. The contract gives the buyer of the services certain rights. And those rights could allow them to tell you how to manage your property.
Let’s say they bought the “pollination services” on part of your property. Well, they may start to tell you that you can’t use pesticides on your adjacent property as it would harm the bees and other pollinators. Let’s say they bought clean water services. Well, they may tell you your hogs are contaminating their clean water and will have to go.
In 2023, Natural Asset Companies that would purchase and trade “ecosystem services” on other peoples’ property were approved by the Securities and Exchange Commission for trading on the New York Stock Exchange (NYSE) as an entirely new class of asset.
Fortunately, a groundswell of opposition was generated, led by American Stewards of Liberty and state Attorneys-General–enough so that the NYSE decided to withdraw its support, at least for the time being. But the effort made clear that the federal government and US investment firms had already conspired in this effort to monetize nature for big profits.
This is truly not a fantasy. A 2008 US Department of Agriculture Press Release confirmed the reality of this plan:
“The USDA announced today that it will establish an Office of Ecosystem Services and Markets. According to their press release, the office will help develop new guidelines and methods to assess ecosystem service benefits and create markets for ecosystem services. The authorization for this office was approved in this summer’s Farm Bill, which Agriculture Secretary Ed Shafer spoke out against.
Ecosystem services are one way that ecologists can place a currency on the valuable services our environment provides, such as water filtration and air purification, carbon sequestration, pollination and recreation. The new office’s first priority will be carbon sequestration…”
The problem for the landowner is that the restrictions or easements he sells as “ecosystem services” may later impair his ability to earn a living from the land. Easements will also reduce the value of his land. Are farmers aware of this as they sell off their “ecosystem services” to the federal government, nonprofits or for-profit companies? Will these companies buy up the farmland, after the restrictions they have imposed reduce its value?
To learn more:
https://www.nrcs.usda.gov/programs-initiatives/acep-agricultural-conservation-easement-program
https://attra.ncat.org/publication/payments-for-ecosystem-services
https://merylnass.substack.com/p/states-attorneys-general-send-scathing
https://americanstewards.us/usda-is-monetizing-natural-processes-under-the-sustains-act
https://americanstewards.us/natural-assets-monetizing-the-air-we-breathe
