Even though the global economy depends on a stable climate and reliable ecosystem services, businesses and financial institutions are not required or incentivised to invest in nature. Central banks and supervisors could change that trajectory simply by fulfilling their financial-stability mandate.
New methodologies for approving carbon credits based on early coal plant retirement do not address addresses the inherent flaws of avoided emission offsets.
The ‘rights of nature’ is an allied approach, but nature needs something with more and broader teeth, that can elicit a moral and political consensus on the need for nature conservation.