Nature-Based Solutions (NBS) are increasingly promoted as critical strategies for climate change mitigation and adaptation, offering co-benefits for biodiversity and human well-being. However, a growing body of critical scholarship suggests that the implementation of certain NBS, particularly those focused on large-scale carbon sequestration through land use, can inadvertently or directly perpetuate patterns akin to historical colonialism. This paper introduces and explores the concept of "carbon colonialism" to describe the appropriation of land, often from vulnerable indigenous and local communities in the Global South, under the guise of environmental conservation and climate action. Through a comprehensive literature review, this study analyzes the mechanisms by which NBS projects, such as REDD+, lead to land grabs, dispossessing communities, restricting traditional livelihoods, and exacerbating existing inequalities. It critically examines the narratives that legitimize these interventions, highlighting the financialization of nature and carbon as a driving force. The paper argues that without robust safeguards for land tenure, human rights, and genuine community participation, NBS risk becoming tools for a new form of green extractivism, undermining climate justice and fostering conflict rather than sustainable solutions. The findings underscore the urgent need for a paradigm shift towards rights-based, equitable, and community-led conservation approaches that prioritize the well-being and self-determination of local populations.