In the field of environmental migration studies, research on social consequences of  development projects has received limited attention. The study highlights the rise of “green grabbing,” e.g., the appropriation of land in the name of climate change mitigation. While there is existing research on the environmental and economic effects of green grabbing, its influence on migration outcomes remains understudied. To address this research gap, the study conducts an exploratory case study of Colombia, a country plagued by internal displacement. It investigates the correlation between green grabbing and internal displacement, considering socioeconomic and political factors. By combining statistical and historical analyses within the world-system theory and the political ecological approach, the research uncovers structural patterns in Colombia and sheds light on the intricate relationship between environmental initiatives and internal displacement, emphasizing the pursuit of profit within the capitalist world-system. Future research directions suggest the use of mediation analysis and qualitative investigation of policy narratives in climate change and migration.