ABSTRACT
Forests have recently attracted attention from investors seeking capital gains from a novel commodity. The carbon stored in these forests has emerged as an investable object. Following global efforts to reduce greenhouse gas emissions, the conservation of forest carbon has been touted to deliver capital profits based on carbon markets. This is facilitated by REDD+ (reducing emissions from deforestation and forest degradation) through the sustainable management of forests and the conservation and enhancement of forest carbon stocks. REDD+ is a real-world exercise in valuing nature that aims to revalue and reconstitute forests as bundles of commodities that can be invested in. This chapter locates the REDD+ processes of commodification and market environmentalism within their global contexts of financial exchange. It then introduces how the global value chain (GVC) framework, in partnership with social relations of value (SRV) theory, can aid attempts to locate value in REDD+ projects in Indonesia and their exchange. The importance of storying value and forests to meet diverse investor motivations comes to the fore. Hence, influencing social constructions of value and evaluative practice and knowledges within diverse economies become key areas of enacting REDD+ projects.
