In his new book, Bloomberg climate reporter Akshat Rathi challenges the notion that capitalism is the root of the climate crisis, instead pointing to its corruption. He argues that a reformed version of capitalism can effectively combat climate change by incentivizing the development and scaling of clean technologies.
Rathi highlights various global examples, from China’s investment in electric vehicles to India’s struggle with solar panel implementation, illustrating how capitalist structures can be adapted to prioritize environmental sustainability. The book showcases successful policies, like the US Inflation Reduction Act and the EU’s punitive measures against polluters, as well as individual efforts that demonstrate the potential for capitalism to facilitate a swift energy transition.
The book underscores the importance of learning from international experiences to apply solutions in other regions, emphasizing that progress in countries like India and China is critical for global success against climate change.
Akshat Rathi argues that around the world economies are switching to clean technology as prices drop
Source: ‘Cheaper to save the world than destroy it’: why capitalism is going green | Green economy | The Guardian