Article by Cicely Walters

Photo by Zbynek Burival on Unsplash

As climate change escalates with global temperatures increasing, sea levels rising, and ice caps melting; it is time to closely examine the intricate relationship between capitalism and climate change. According to the United Nations, “the last decade (2011-2020) was the warmest on record, and each of the last four decades has been warmer than any other previous decade since 1850”. This trend displays an impending crisis for the future of our planet and a desperate need for humanity to change.

How has humanity arrived at this precarious tipping point in the catastrophic climate crisis? One might argue that through the forces of globalisation and the prevailing culture of mass consumption, there can only be one explanation: capitalism. It is the foundation on which our society is built and underpins the world that we live in. It promotes a lifestyle of profit over planet and relentless growth that prioritises short term gains over long term substantiality. John Urry draws upon Marx and Engels’ image of capitalism as a sorcerer and climate change as its spell. The spell has been released on society by capitalism, yet it can no longer be called back or controlled, it seems the sorcerer was oblivious to the consequences this spell would have. The World Health Organisation (WHO) collected data that shows 2 billion people lack safe drinking water and 600 million suffer from foodborne illnesses. This shocking statistic makes one question how did we get in such a precarious situation.

In 2010 the oil drilling rig Deepwater Horizon exploded and sank resulting in the largest oil spill in the history of marine oil drilling operations. Four million barrels of oil flowed over an 87 day period before finally being stopped in July of 2010. This is only one of many scenarios where international corporations have single-handedly caused severe damage to humanity and ecological systems. Urry introduced the notion of the mobility complex, where society can move goods and information around the world in an easy and accessible way. He states that work, friendship and education all rely on this mobility, it is how society is bound together, yet this has severe consequences like climate change. The ease of movement has been facilitated by capitalism and the growth of transnational companies, further emphasising how capitalism is the source of these tragedies.

However, we should not fear, after all, these companies have pledged to reduce their massive carbon emissions! Yet, upon deeper inspection, the reality clearly depicts a far more sinister narrative. In 2021, a Dutch court ruled that Shell must cut their carbon emissions by 45% by 2030. Although this may seem like a positive development, in 2023, Shell narrowly missed its target for emissions by reducing greenhouse gases by just 1%. Nestle claimed to reduce emissions by 50% by 2030, however reports have found they are on track to reduce just 18%. This is the practice of greenwashing, where companies mislead their consumers about their environmental practices in order to sound more eco-friendly and therefore capitalise on the sustainability movement. This allows buyers to feel better about themselves without knowing that there is no real systematic or environmental change being made. This emphasises the inherent contradictory and selfish nature of capitalism.

Despite being a significant cause of the climate crisis, capitalism could potentially be the solution. Companies could use their major profit and invest in the development of more renewable energy sources, such as solar and hydropower, which would promote a more sustainable lifestyle. Capitalism has the power and influence to encourage a move towards sustainable energy, which would reduce the reliance on fossil fuels. An example of a green technology investment is the Offshore Wind Farm off the South Coast of England. which has the power to generate electricity used annually by almost 350,000 British homes. This illustrates that capitalism can, in fact, be used to foster a more sustainable society whilst facilitating economic growth.

Capitalism has created a fast-paced, highly mobile and consumerist society that disproportionately benefits the upper echelon of society, whilst adversely affecting the less privileged. There is a pressing need for corporate companies to be held accountable by society for the severe and irreversible damage they are inflicting upon the environment. These issues permeate our daily life and affect everyone in many different ways, and so it is time for the structure of society to change. This change is essential if we want a viable future for generations to come.

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