Mainstream scientific and political work on climate change tends to be organized around a binary division between adaptation and mitigation. Global warming – modelled as a nonhuman “nature” of molecular flows and heat exchanges – is seen to impact on an undifferentiated “society”, which returns the favour by, for example, limiting greenhouse gas emissions or re-engineering “nature” so that it can absorb more of them.

The rise of ecosystem services presents both the necessity and the opportunity to rethink issues of capital and nature. A presentation from a Cambridge University conference entitled “Rights to Nature: Tracing Alternative Political Ecologies against the Neoliberal Environmental Agenda”, organized by Elia Apostolopoulou and Jose Cortes-Vazquez, addresses two of these issues in particular. First, what, if any, role do the novel transactions in ecosystem services that have emerged since the 1970s play in capital accumulation, and why have they emerged now?

This presentation challenges the current rush towards mega infrastructure projects that are being planned the world over as a means of boosting economic recovery.

This article is drawn from the book Licensed Larceny.