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10 - What futures for climate capitalism?

Published online by Cambridge University Press:  05 June 2012

Peter Newell
Affiliation:
University of East Anglia
Matthew Paterson
Affiliation:
University of Ottawa
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Summary

So where might all this be heading? In the introduction, we ended by suggesting that the issue is less whether we have climate capitalism or not, but rather what sort of climate capitalism we end up with. Capitalism of one form or another will provide the context in which near-term solutions to climate change have to be found. The governance questions we have just discussed, as well as the critiques of carbon markets we looked at in Chapter 8, suggest the issues climate capitalism will have to address if it is to be effective. The forces behind the development of carbon markets – those forces dominant under neoliberalism that we discussed in Chapter 2 – also provide clues as to the possible forms that climate capitalism might take as it develops. But how might we imagine the current ways that climate change is being managed developing into a more fully fledged, coherent system that could lead to decarbonisation of the economy? And what then might be done to make one or other scenario more likely? We sketch out here four possible scenarios. We should emphasise, they are scenarios, not predictions. They are, in effect, scenario-building exercises thinking through how the various elements of climate change politics we have explored throughout the book might play out in the coming decades.

Type
Chapter
Information
Climate Capitalism
Global Warming and the Transformation of the Global Economy
, pp. 161 - 181
Publisher: Cambridge University Press
Print publication year: 2010

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References

,World Bank, International Trade and Climate Change: Economic, Legal and Institutional Perspectives (Washington, DC: World Bank, 2007)Google Scholar
Skjaerseth, J. B. and Wettestad, J., EU Emissions Trading: Initiation, Decision-making and Implementation (Ashgate Publishing, 2008)Google Scholar
Levy, D., ‘Business and the evolution of the climate regime: the dynamics of corporate strategies,’ in Levy, D. and Newell, P. (eds.), The Business of Global Environmental Governance, (Cambridge MA: MIT Press, 2005)Google Scholar
Victor, D. G., Morgan, M. Granger, Apt, J., Steinbruner, J. and Ricke, K., ‘The geoengineering option: a last resort against global warming?’ Foreign Affairs, March/April; POST (Parliamentary Office of Science and Technology, 2009)Google Scholar
Newell, P., ‘Fit for purpose: towards a development architecture that can deliver’, in Paluso, E. (ed.), Re-thinking Development in a Carbon-Constrained World: Develop- ment Cooperation and Climate Change (Finland: Ministry of Foreign Affairs, 2009), pp. 184–96Google Scholar
Newell, P., ‘Civil society, corporate accountability and the politics of climate change’, Global Environmental Politics, 8(3) (2008), 124–55.CrossRefGoogle Scholar

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