ABSTRACT
During the past three decades, market-based management of nature, emphasizing monetary valuation and trading of so-called natural capital, has become the prevailing framework in international environmental governance and treaty negotiations (McAfee 2012a). Recently this approach has been framed in terms of ‘green economy’. To their advocates, green-economy principles offer the best hope for overcoming a global ‘triple crisis’ of subsistence (hunger and extreme poverty), environmental degradation (global warming and species loss), and economic stagnation (Gills 2010; IMF 2012).
