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352

Capitalism Can't Solve Climate Change (time.com)

submitted 5 months ago by [email protected] to c/[email protected]

43 comments fedilink

And the IEA, for its part, expects China to continue to be the sole meaningful over-achiever. It recently revised upwards by 728 GW its forecast for total global renewables capacity additions in the period 2023–27. China’s share of this upward revision? Almost 90 percent. While China surges ahead, the rest of the world remains stuck.

TIME magazine says "Capitalism Can't Solve Climate Change" (time.com)

submitted 5 months ago* (last edited 5 months ago) by [email protected] to c/[email protected]

10 comments fedilink

TLDR: China is the only significant force in renewables adoption in the world, because the country uses central planning to advance its environmental objectives. The West's reliance on the profit motive to drive green energy is not working and will not work because renewables are not profitable enough.

This article is the most positive I have ever seen any mainstream news be towards China and central planning. I don't think there is a single "but at what cost" statement in the entire article. Frankly, I'm impressed this managed to get past the TIME editors.

The author, Brett Christophers, wrote The Price is Wrong: Why Capitalism Won't Save the Planet and Our Lives in Their Portfolios: Why Asset Managers Own the World, and Rentier Capitalism: Who Owns the Economy, and Who Pays for It?, among others, published via Verso Books.