Article by Louis Morrell

Photo by Antonio Garcia on Unsplash

The climate crisis poses an existential threat that requires urgent action. By 2030, the IPCC predicts the damage of climate change to be irreversible. Without effective intervention, a tipping point will be reached whereby we cannot avoid the destructive effects of global warming on environmental, economic and social scales.

The brutal nature of capitalism is to blame for climate change. This dog-eat-dog system centres on profits, greed and immediate gratification. Combined, these factors mean that the system often turns a blind eye to how we are causing the deterioration of our planet.

However, as awareness and the severity of the issues at hand increase, intervention becomes a necessity, for the questionable continuity of capitalism and for the prevailing issue of the climate crisis.

This post explores whether expanding renewable energy can help restore the planet’s fragile state.

In his paper, ‘Sociology and climate change’ (2009), John Urry explains how “there is a 50% risk of more than 5 degrees increase in temperatures by 2100” which would “transform the worlds physical and human geography through a 5-20% reduction in world consumption levels.” Hence, it is evident that the continuation of non-renewable energies would contribute to or lead to this possible trend.

The transformation to sustainable energies has the potential to both lower the temperature rise and keep consumption levels at a stable level.

Unlike fossil fuels, which are finite and are one of the most significant contributors to environmental degradation, renewable energies are sustainable. They include solar, wind, hydroelectric, tidal or biomass energy. The switch to these energies that produce little to no greenhouse gas emissions is critical in tackling our climate crisis.

China’s Green Revolution

China, the emerging superpower, has long been criticised for their reliance on fossil fuels in supplying their energy. However, they have begun bold initiatives to end this. In September 2020, President Xi Jinping announced that China will aim to go carbon neutral by 2060. Technology reporter James Purtill notes how China is “installing at least 10 gigawatts of wind and solar generation capacity every fortnight.” This contribution is having – and will continue to have a profound impact on stabilising fossil fuel emissions within China and globally, which will help limit the damages of climate change by reducing environmental pollution and degradation.

It is crucial that other countries, particularly superpowers follow in the footsteps of China in reducing the climate crisis. Political intervention is imperative in this process. These policies must aim at regulating capitalist corporations and rewarding and providing benefits for renewable energy businesses. This process will significantly contribute to the preservation of our environment and the climate crisis.

However, a significant issue is that these powerful capitalist corporations hold considerable influence, often using it to shape policies in their favour. This may include hiring lobbyists to advocate for their interests to help with influencing legislation. They often donate money to candidates or political campaigns to sway politicians’ positions on topics that benefit capitalism.

Hence, for there to be total commitment to the climate crisis, capitalist businesses must take new approaches. The economic system needs to adapt its ideology to align with our present environmental state.

Non-sustainable models must be replaced by green and sustainable business models. Ethical consumerism should be encouraged. A crucial change lies in redefining success beyond profit maximisation. The shift should encompass a broader measure of success that includes environmental sustainability and ecological health. Real change can happen once capitalists prioritise the environment and people over profits.

Although we mustn’t disregard the benefits of capitalism- in wealth creation, consumer choice, economic freedom and the innovation and technology it brings- which has contributed to a global economic boom.

However, these benefits are beginning to be overshadowed by the problems- namely the climate crisis. As Urry notes, capitalism is the ‘sorcerer’ who is no longer able to contain or control their ‘spells.’

Therefore, capitalists need to change their ideology to manage the global issues they have created and provide stability on our planet. This process has the potential to put Earth back on a course for healing and resolving the climate crisis.

In the face of our climate crisis, a shift in capitalist ideologies from prioritising short-term gains to the health of our planet is necessary. By embracing renewable energy and redefining success beyond profit, we can be hopeful for a sustainable future where our planet can be restored.

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