In recent years, nature conservation has become a booming business where huge sums of money change hands, and endangered species become exotic financial products. Banking Nature, delves into this hidden world of so-called environmental banking, where huge corporations such as Merrill Lynch and JP Morgan Chase buy up the land and habitat of endangered species, and then sell them in the form of shares. Companies that inevitably harm the environment are then obliged to buy credits to offset the damage that they have caused.
In Uganda, we meet men who measure trees to determine how much carbon they store and then a banker from the German firm that sells the resulting carbon credits. In Brazil, the steel giant Vale destroys the rainforest, replaces it with a monocrop tree plantation, and reaps the benefits of environmental credits as if the rainforest was still standing. Banking Nature posits that we disallow the same corporate criminals responsible for the global financial crisis from turning what’s left of the natural world into their final corrupt commodities market.
https://www.youtube.com/watch?v=y1EdZeRHgbM
In “Banking Nature”, directors Denis Delestra and Sandrine Feydel document the growing movement to monetize the natural world, and to turn endangered species and threatened areas into instruments of profit.
"Protecting our planet has become big business with companies promoting new environmental markets. This involves species banking, where investors buy up vast swathes of land, full of endangered species, to enable them to sell “nature credits.” Companies whose actions destroy the environment are now obliged to buy these credits and new financial centres have sprung up, specializing in this trade. Many respected economists believe that the best way to protect nature is to put a price on it. But others fear that this market in nature could lead to companies having a financial interest in a species’ extinction. There are also concerns that—like the subprime mortgage crisis of 2008—the market in nature credits is bound to crash. And there are wider issues at stake. What guarantees do we have that our natural inheritance will be protected? And should our ecological heritage be for sale? [Source: Via Decouvertes Production]
Grand Prize of the City of Innsbruck nature film festival. Jury statement:
“Whoever thought that capitalizing natural resources could be a solution for our ecological crisis knows better now: thanks to the investigative approach of the directors. It is clear that the protection of endangered species should not be left to multinational companies and financial consultants. Although the topic is highly complex, the film remains exciting to the very end. The development to profit from nature as revealed by the film is frightening.”
