COP30: ‘Nature Not For Sale’ - Environmental groups gault VP Shettima’s call to monetise natural assets

COP30: ‘Nature Not For Sale’ - Environmental groups gault VP Shettima’s call to monetise natural assets

By Johnson Arua

Environmental and climate justice organisations have faulted Vice President Kashim Shettima’s recent call for the creation of new financial mechanisms to harness the economic value of nature, warning that the proposal would commercialise the environment and undermine true climate justice.

Speaking in Belém, Brazil, ahead of the United Nations Climate Change Conference (COP30), the Vice President had urged the establishment of finance systems to monetise Nigeria’s forests, land, water bodies and biodiversity.

But in a joint statement on Tuesday, a coalition of advocacy groups — including Corporate Accountability and Public Participation Africa (CAPPA), Health of Mother Earth Foundation (HOMEF), Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN), Lekeh Development Foundation, and Social Action, described the suggestion as “a concerning misinterpretation of true climate justice.”

They argued that framing nature as an economic asset aligns the country with corporate and market-driven interests rather than the needs of citizens, particularly communities already experiencing the worst climate impacts.

“We find this framing deeply troubling because it reduces nature – our collective heritage and source of life – to a mere economic asset,” the groups said. “This approach, often disguised under concepts like ‘nature-based solutions,’ ‘carbon markets,’ and ‘carbon offsetting,’ encourages the financialisation of the environment, turning ecosystems into speculative commodities traded for profit.”

The coalition said schemes linked to such monetisation have historically prioritised financial returns over conservation, leading to the destruction of ecosystems, displacement of smallholder farmers and indigenous peoples, disruption of local food systems, and worsening rural poverty.

According to them, commodifying nature violates human dignity and cultural rights while erasing indigenous identities and traditional custodianship. They also warned that Nigeria could lose control of its ecological assets to foreign interests through volatile international carbon markets and private investors.

“It opens the door to corporate capture and greenwashing, where polluting companies buy carbon credits instead of cutting emissions, continuing to destroy the planet while pretending to be ‘climate champions,’” the statement added.

The organisations urged the Nigerian government to resist the temptation of short-term financial gains and instead prioritise policies that build a sustainable, equitable future. They called for greater investments in renewable energy such as solar and wind, agroecology, and community-led conservation practices that protect biodiversity while safeguarding food sovereignty.

They further emphasised that any climate policy direction must be shaped through inclusive dialogue involving civil society, indigenous groups and local communities.

“Climate action must be people-centred, rooted in justice, equity, and the protection of human and environmental rights, not dictated by the profit motives of corporations or global carbon traders,” the statement read.

The groups maintained that nature must remain a shared trust rather than a tradable commodity, stressing that government has a duty to protect the environment, human culture and dignity over market interests.

The statement was jointly signed by CAPPA, HOMEF, ERA/FoEN, Lekeh Development Foundation, Social Action and other partners committed to ecological justice.