Presentation short abstract

By analysing carbon trading on voluntary carbon markets, this contribution proposes a quantification of the unequal ecological and economic exchange promoted by the carbon offsetting paradigm.

Presentation long abstract

Despite the critical scholarship and media coverage discussing its controversial track record in terms of effectiveness and social feasibility, carbon offsetting remains one of the key mechanisms within global climate governance, as demonstrated by the recent proliferation of bilateral and multilateral agreements under Article 6 of the Paris Agreement. In this contribution, based on a recently-published paper as well as ongoing research, we address an understudied dimension of the offsetting paradigm, with a focus on the voluntary carbon market and nature-based ‘solutions’: we show how carbon trading constitutes a form of unequal ecological and economic exchange and attempt a novel quantification of the global unequal exchange through carbon credits. To ground our hypotheses, in addition to global-scale considerations, we analyse the carbon trading landscape of a particular country (Colombia) and offer a country-specific quantification of value plunder through carbon commodity chains. Moreover, we seek to shed light on further value leakage and localised impacts through both formal and informal carbon brokers. In light of this, we believe our contribution would be a perfect fit for this panel and look forward to enriching our perspectives through the exchange with our co-panelists.