Processes of Capitalization/financialization of Nature: From Cases in Southeast Asia
April 01, 2015
◆Grant-in-Aid for Scientific Research (JSPS) "Scientific Research (B)"
◆Leader : UBUKATA Fumikazu
◆FY2015 - FY2018
In recent years, there has been discussion about approaches that procure funds through the use of financial instruments and direct payments to mitigate environmental problems, and some of them have actually been introduced or prepared even in developing countries. Typical examples in these countries include the use of carbon credits (such as REDD+) and systems to pay for environmental services (PES). This study looks at the processes leading to the formulation of these funding mechanisms, and regards them as the new developments that are mainstreaming the commodification of nature—in other words the background leading to the "capitalization" and "financialization" of nature. It will analyze the flow of past discussions and realization of ideas on carbon markets and ecosystem services, from four angles: knowledge, technology, institutions/policies, and actual status. Taking the examples in Southeast Asian cases, the study will then examine the processes and mechanisms leading to the "capitalization/financialization" of nature, as well as changes in governance of society and the environment.