Disentangling the “net” from the “offset”: learning for net-zero climate policy from an analysis of “no-net-loss” in biodiversity

Net-zero has proved a rapid and powerful convening concept for climate policy. Rather than treating it as novel development from the perspective of policy, we examine net-zero in context longer history experience “no-net-loss” framing biodiversity Drawing on material scholarly, policy activist literature cultural political economy theory, interpret turn to “net” policies practices part neoliberalism, which quantification commodification environment, particular—trading through an offset market, enable continued ideological dominance economic freedoms. This analysis highlights ways adoption reconstructs goals, processes mechanisms involved. It is neoliberal commitment markets that drives net framings very purpose validating offsetting markets. Understanding making measures this way potential disentangle “offset”, discuss various obfuscations perversities entanglement affords. We argue delivery outcomes might be separated mechanism offsetting, marketization compensation typically presumed involve, but may yet remain entangled ideology. In conclusion suggest some conditions more effective, fair sustainable “net-zero”