Ahead of the ongoing United Nations Climate Change Conference, COP 30, Nigerian environmental rights organisations have criticised Vice President Kashim Shettima’s call for new finance mechanisms to “harness the economic value of nature,” warning that such proposals risk commodifying the environment.
Speaking in Brazil, the Vice President advocated the creation of financial systems that would monetise Nigeria’s natural assets.
However, 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 proposal as a misinterpretation of climate justice.
In a joint statement, the organisations said, “By suggesting that Nigeria’s forests, water bodies, land, and biodiversity should be monetised for financial gain, the country is aligning with corporate and market-driven interests rather than the rights and aspirations of its people, especially those on the front lines of climate impacts.”
The groups warned that treating nature as an economic asset risks turning ecosystems into speculative commodities traded for profit, citing examples such as carbon markets and carbon offsetting schemes.
According to them, such approaches have historically led to ecosystem destruction, displacement of smallholder farmers and indigenous communities, disruption of food systems, and worsening rural-urban poverty.
“Commodifying nature violates human dignity, erodes traditional stewardship, and opens the door to corporate capture and greenwashing,” the statement added. “Polluting companies may continue to destroy the planet while claiming to be ‘climate champions,’ and national sovereignty could be compromised as ecological wealth is mortgaged to volatile international markets.”
The organisations called on Nigeria to resist short-term financial gains from trading its ecological wealth, urging investment instead in renewable energy, agroecology, community-led conservation, and other sustainable and equitable solutions.
They stressed that inclusive dialogue with civil society, indigenous peoples, and local communities is essential before advancing any environmental or climate policies.
“True climate justice demands that nature remains a shared trust, not a tradable commodity. It is the duty of the State to safeguard the environment, human culture, and dignity, not exploit them for market interests,” the statement concluded.