Recently, there has been increased conversation around the role capitalism has to play in the current climate crisis – waking businesses up to the fact they have both the power and the responsibility to make a difference and change the path we are on regards climate change.
Anti-capitalist groups like Extinction Rebellion do a great job of raising awareness of the danger our planet is in but seem to offer no viable solution to the problem. Governments are, of course, slow to act, delaying, blocking or creating short-term policies and then backtracking on their promises. As always, gaining and/or retaining power remains their number one priority.
Many point the finger at capitalism as the culprit behind the climate crisis, and few would argue against that. However, we are all jointly responsible, as consumers, workers, business owners and leaders. In short, profit and convenience has taken precedence over the planet.
Sure, changes are afoot with the rise of clean energy, the proposed ban on the sale of petrol and diesel vehicles and changing attitudes towards single-use plastics – but it is only the tip of a rapidly melting iceberg.
In the future, the success of a company in the future will be measured not just on its turnover and profitability, but by how well it tackles the environmental crisis. An opinion shared by many in a recent Twitter debate, including Professor Brian Cox.
During the discussion, an article by Blackrock Chairman and CEO, Larry Fink, was posted, posing fundamental questions facing businesses regarding economic growth in the face of the climate crisis and the importance of their role in driving sustainable change.
A view backed by our favourite Professor:
If the world is to be saved from the climate crisis, capitalism will likely be the driving force behind it. We need innovation and creativity more than ever and, like it or not Extinction Rebellion fans, this is more likely to come from the commercial world than anywhere else.
Positive, realistic and achievable solutions driven by entrepreneurs and investors will come to fruition quicker and more effectively than any amount of half-hearted governmental regulation and embargo.
The need to solve the climate crisis is a real and present challenge, and if someone becomes a multibillionaire overnight because they found a way then frankly, they deserve our applause, not condemnation.
Pointing the finger of blame at capitalism will achieve nothing. Taking a collective responsibility will.
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