Green capitalism reinforces political environmentalism

Nueva Tribuna

The return of the United States to the international consensus on addressing climate change is one of the pillars of the foreign policy of the Biden administration. The virtual summit on the climate must consolidate commitments weakened during the Trump years, under which other breaches have been camouflaged and sheltered.

But fighting climate change and preserving a livable planet is more than just a goal of humanity. It is also a gigantic business opportunity propelled under the so-called ecological transition. Necessity favors this new phase of capitalist development in a multitude of fields of expansion: acceleration of the development of renewable energies, new technological applications, reorientation of the construction and engineering sector, opening of financing lines, etc.

As in other phases of the current socio-economic system, public capital will drain the private sector. The Biden job promotion plan will inject $ 2 trillion, part of which will go to grease the “green economy.” In Europe, a part of the 750 billion of the Recovery Plan will have a similar purpose. And there will be more funds. But this push will not necessarily favor a more equal distribution of resources. Rather, the opposite should be feared: despite a proliferation of small and medium businesses initially associated with the ecological transition , it is most likely that sooner rather than later a business concentration will be consolidated.

At the geopolitical level, a rebalancing of opportunities cannot be expected either. Since the beginning of the climate negotiations (Rio, 1992) to date, compensation commitments to poor countries have been downgraded or unfulfilled. As the Kenyan Mohamed Adow, director of Africa Power Shift , recalled last year , the West accumulates a historical ecological debt with the developing world. The US, Canada and Europe are still today more intense emitters of CO2 than the rest of the countries, including the current big polluters of the BRICS group ( Brazil , Russia, India, China and South Africa.

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