• Monthly Review
  • Monthly Review Press
  • MR (Castilian)
  • Climate & Capitalism
  • Money on the Left
  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • Mastadon
MR Online
  • Home
  • About
  • Contact/Submission
  • Browse
    • Recent Articles Archive
    • by Subject
      • Ecology
      • Education
      • Imperialism
      • Inequality
      • Labor
      • Literature
      • Marxism
      • Movements
      • Philosophy
      • Political Economy
    • by Region
      • Africa
      • Americas
      • Asia
      • Australasia
      • Europe
      • Global
      • Middle East
    • by Category
      • Art
      • Commentary
      • Interview
      • Letter
      • News
      • Newswire
  • Monthly Review Essays
 | George Bahgoury Egypt Untitled 2015 | MR Online George Bahgoury (Egypt), Untitled, 2015.

Capitalism created the climate catastrophe; Socialism can avert disaster: The Thirty-Fifth Newsletter (2022)

By Vijay Prashad (Posted Sep 02, 2022)

Originally published: Tricontinental: Institute for Social Research on September 1, 2022 (more by Tricontinental: Institute for Social Research)  |
Capitalism, Climate Change, Environment, SocialismGlobalNewswireGreen New Deal (GND), Tricontinental Newsletter

Dear friends,

Greetings from the desk of Tricontinental: Institute for Social Research.

In November 2022, most member states of the United Nations (UN) will gather in the Egyptian resort city of Sharm El Sheikh for the annual UN Climate Change Conference. This is the 27th conference of the parties to assess the UN Framework Convention on Climate Change, commonly referred to as COP 27. The international environmental treaty was established in Rio de Janeiro in 1992, with the first conference held in Berlin in 1995; the agreements were extended in the Kyoto Protocol of 2005 and supplemented by the Paris Agreement of 2015. No more needs to be said of the climate catastrophe, which threatens mass species extinction. The move away from carbon-based fuel has been stalled by three main impediments:

  1. Right-wing forces which deny the existence of climate change.
  2. Sections of the energy industry which have a vested interest in the continuation of carbon-based fuel.
  3. Western countries’ refusal to admit that they remain principally responsible for the problem and to commit to repaying their climate debt by financing the energy transition in developing countries whose wealth they continue to siphon off.

In public debates over the climate catastrophe, there is barely any reference to the Rio Earth Summit of 1992 and the treaty that noted: ‘The global nature of climate change calls for the widest possible cooperation by all countries and their participation in an effective and appropriate international response, in accordance with their common but differentiated responsibilities and respective capabilities and their social and economic conditions’. The phrase ‘common but differentiated responsibilities’ is an acknowledgement of the fact that while the problem of climate change is common to all countries and none are immune to its deleterious impact, the responsibility of countries is not identical. Some countries—which have benefited from colonialism and carbon fuel for centuries—have a greater responsibility for the transition to a decarbonised energy system.

Roger Mortimer AotearoaNew Zealand Whariwharangi 2019

Roger Mortimer (Aotearoa/New Zealand), Whariwharangi, 2019.

The scholarship on the matter is clear: Western countries have benefited inordinately from both colonialism and carbon fuel to attain their level of development. The data from the Global Carbon Project, which was headed by the U.S. Department of Energy’s now defunct Carbon Dioxide Information Analysis Centre, shows that the United States has been far and away the largest producer of carbon dioxide emissions since 1750. By itself, the United States has emitted more CO2 than the entire European Union, twice as much as China, and eight times more than India. The main carbon emitters were all colonial powers, namely the U.S., Europe, Canada, and Australia, which, despite consisting of roughly one tenth of the global population, have together accounted for more than half of cumulative global emissions. From the 18th century on, these countries have not only dispensed the bulk of the carbon in the atmosphere, but they continue to exceed their share of the global carbon budget.

Carbon-fuelled capitalism, enriched by the wealth stolen through colonialism, has enabled the countries of Europe and North America to enhance the well-being of their populations and attain their relatively advanced level of development. The extreme inequalities between the standard of living for the average European (748 million people) and the average Indian (1.4 billion people) is seven times greater than it was a century ago. Though the reliance by China, India, and other developing countries on carbon, particularly coal, has risen to a high level, their per capita emissions continue to remain far below those of the United States, whose per capita emissions are close to twice that of China’s and eight times more than India’s. The lack of acknowledgment of climate imperialism leads to a failure to properly resource the Green Climate Fund, which was created in 2010 at COP 16 with the aim of helping developing countries ‘leapfrog’ carbon-fuelled social development.

Green New Deal GNDAt the global level, debates on how to address the climate crisis frequently revolve around various forms of a Green New Deal (GND), such as the European Green Deal, the North American GND, and the Global GND, which are promoted by nation states, international organisations, and different sections of environmental movements. In order to better understand and strengthen this discussion, the Tricontinental: Institute for Social Research office in Buenos Aires, Argentina, gathered leading eco-socialist scholars to reflect on the different GNDs and the possibilities to realise a genuine transformation to stave off the climate catastrophe. That discussion—with José Seoane (Argentina), Thea Riofrancos (United States), and Sabrina Fernandes (Brazil)—is now available in notebook no. 3 (August 2022), The Socioenvironmental Crisis in Times of the Pandemic: Discussing a Green New Deal.

These three scholars argue that capitalism cannot solve the climate crisis since capitalism is the principal cause of the crisis. One hundred of the world’s largest corporations are responsible for 71% of global industrial greenhouse gases (largely carbon dioxide and methane); these corporations, led by the carbon energy industry, are not prepared to accelerate the energy transition, despite the technological capacity to generate eighteen times the global electricity demand by wind power alone. Sustainability, a word that has been emptied of its content in much public discourse, is not profitable for these corporations. A social renewable energy project, for example, would not produce vast profits for the fossil fuel companies. Interest from certain capitalist firms in the GND is substantially motivated by their desire to secure public funds to engineer new private monopolies for the same capitalist class that owns those large corporations that pollute the world. But, as Riofrancos explains in the notebook, ‘“Green capitalism” purports to mitigate the symptoms of capitalism—global warming, the mass extinction of species, the destruction of ecosystems—without transforming the model of accumulation and consumption that caused the climate crisis in the first place. It is a “techno-fix”: the fantasy of changing everything without changing anything’.

Gonzalo Ribero Bolivia Ancestor 2016

Gonzalo Ribero (Bolivia), Ancestor, 2016.

The mainstream discussion of GND emerges, as Seoane points out, from initiatives such as the 1989 Pearce report Blueprint for a Green Economy, which was prepared for the UK government and proposed the use of public funds to produce new technologies for private companies as a solution to the cascading crises in Western economies. The concept of the ‘green economy’ was not to green the economy, but to use the idea of environmentalism to revitalise capitalism. In 2009, during the world financial crisis, Edward Barbier, a co-author of the Pearce Report, wrote a new report for the UN Environment Programme titled Global Green New Deal, which repackaged the ‘green economy’ ideas as the ‘green new deal’. This new report once more argued for public funds to stabilise turbulence in the capitalist system.

Our notebook emerges from a different genealogy, one that is rooted in the World People’s Conference on Climate Change and the Rights of Mother Earth (2010) and the People’s World Conference on Climate Change and the Defence of Life (2015), both held in Tiquipaya, Bolivia and then developed in gatherings such as the Alternative World Water Forum (2018), the People’s Summit (2017), and the People’s Nature Forum (2020). At the heart of this approach, which grew out of the popular struggles in Latin America, are the concepts buen vivir and teko porã (‘living well’). Rather than simply saving capitalism, which is the concern of the GND argument, the point of our notebook is to think about changing the way we organise society, in other words, to advance our thinking about building a new system. Building these ideas, Fernandes says, must involve the trade unions (many of which are concerned about job loss in the transition from carbon to renewables) and peasant unions (many of which are gripped by the fact that land concentration destroys nature and creates social inequality).

Klay Kassem Egypt The Mermaid Wedding 2021

Klay Kassem (Egypt), The Mermaid Wedding, 2021.

We must change the system, as Fernandes argues, ‘but the political conditions today are not conducive to this. The right wing is strong in many countries, as is the denial of climate science’. Therefore, rapidly, the people’s movements must put a decarbonisation agenda on the table. Four goals lie before us:

  1. Degrowth for Western countries. With less than 5% of the world’s population, the United States consumes a third of the world’s paper, a quarter of the world’s oil, nearly a quarter of the world’s coal, and a quarter of its aluminium. The Sierra Club says that U.S. per capita consumption ‘of energy, metals, minerals, forest products, fish, grains, meat and even fresh water dwarfs that of people living in the developing world’. Western countries need to cut back on their overall consumption, scaling back, as Jason Hickel notes, the ‘unnecessary and destructive ones’ (such as the fossil fuel and arms industries, the production of McMansions and private jets, the manner of industrial beef production, and the entire business philosophy of planned obsolescence).
  2. Socialise the key sector of energy generation. End subsidies to the fossil fuel industry and build a public energy sector that is rooted in a decarbonised energy system.
  3. Fund the Global Climate Action Agenda. Ensure that Western countries fulfil their historic responsibilities in supporting the Green Climate Fund, which will be used to finance the just transition in the Global South in particular.
  4. Enhance the public sector. Build more infrastructure for social rather than private consumption, such as more high-speed rail and electric buses, to decrease the use of private cars. Countries of the Global South will have to build their own economies, including by exploiting their resources. The issue here is not entirely whether to exploit these resources but whether they can be extracted for social and national development and not merely for the accumulation of capital. Buen vivir—living well—means to transcend hunger and poverty, illiteracy and ill-health, which will be developed by the public sector.

No climate policy can be universal. Those who devour the world’s resources must reduce their consumption. Two billion people have no access to clean water, while half the world’s population does not have access to adequate health care. Their social development must be guaranteed, but this development must be built on a sustainable, socialist foundation.

Warmly,

Vijay

Monthly Review does not necessarily adhere to all of the views conveyed in articles republished at MR Online. Our goal is to share a variety of left perspectives that we think our readers will find interesting or useful. —Eds.

About Vijay Prashad

Vijay Prashad is an Indian historian, editor, and journalist. He is a writing fellow and chief correspondent at Globetrotter. He is an editor of LeftWord Books and the director of Tricontinental: Institute for Social Research. He is a senior non-resident fellow at Chongyang Institute for Financial Studies, Renmin University of China. He has written more than 20 books, including The Darker Nations and The Poorer Nations. His latest books are Struggle Makes Us Human: Learning from Movements for Socialism and (with Noam Chomsky) The Withdrawal: Iraq, Libya, Afghanistan, and the Fragility of U.S. Power.
Green New Deal (GND) Tricontinental Newsletter
Gorbachev and his legacy must be viewed in context
‘Dangerous heat waves’ to be more frequent and more sustained in near future
  • Also by Vijay Prashad

    • Waiting for a new Bandung spirit: The Sixteenth Newsletter (2025) by Vijay Prashad April 18, 2025
    • The Buchenwald concentration camp was liberated by Communist prisoners: The Fifteenth Newsletter (2025) by Vijay Prashad April 11, 2025
    • Andrée Blouin is our kind of Pan-African revolutionary: The Fourteenth Newsletter (2025) by Vijay Prashad April 04, 2025
    • What Rodolfo Walsh would demand we write in his place: The Thirteenth Newsletter (2025) by Vijay Prashad March 28, 2025
  • Also By Vijay Prashad in Monthly Review Magazine

    • The Actuality of Red Africa June 01, 2024
    • Africa Is on the Move May 01, 2022
    • Preface January 01, 2022
    • Introduction January 01, 2022
    • Quid Pro Quo? October 01, 2011
    • Reclaim the Neighborhood, Change the World December 01, 2007
    • Kathy Kelly’s Chispa December 01, 2005

    Books By Vijay Prashad

    • Washington’s New Cold War: A Socialist Perspective November 15, 2022
    • Washington Bullets: A History of the CIA, Coups, and Assassinations September 16, 2020

    Monthly Review Essays

    • US Imperialism in Crisis: Opportunities and Challenges to a Global Community with a Shared Future
      Sam-Kee Cheng  | A late 1940s Soviet poster showing a US military service member lounging on top of a German factory smoking a cigar The text beneath reads DER DOLLARIMPERIALISMUS dollar imperialism | MR Online

      1. Introduction The predominance of US economic, political and military power in the world was established at the end of the Second World War.1 With just 6.3 percent of global population, the United States held about 50 percent of the world wealth in 1948. As the only power which had used nuclear weapons on civilian […]

    Lost & Found

    • Journalism, democracy, … and class struggle
      Robert W. McChesney  | Bob McChesney on Saving Journalism | MR Online

      Our job is to make media reform part of our broader struggle for democracy, social justice, and, dare we say it, socialism.

    Trending

    • National Museum of African American History and Culture
      Trump orders purge of Black History from Smithsonian, targets African American Museum
    • President Donald Trump / PM Benjamin Netanyahu
      ‘Let all Hell break loose’: The Gaza ceasefire and how we all got played
    • Trump addresses the Conservative Political Action Conference in 2015. Greg Skidmore:Creative Commons
      Don’t Negotiate: Negotiation Strategy Notes for Law Firms Under Attack by the Trump Administration from Harvard Law Professor of Negotiation (April 13, 2025)
    • Cuban doctors arrive in South Africa in 2020 to support efforts to curb COVID-19. Credit: Flickr/governmentza (CC BY-ND 2.0)
      No, Marco Rubio, Cuban doctors are not victims of ‘forced labor’
    • The Elwha River, pictured here, is one of Olympic National Park's most important natural features. The illegal construction of two dams in the early 1900s blocked salmon from reaching their ancestral upstream spawning sites, but both are now gone, and the Elwha flows freely from its headwaters to the Strait of Juan de Fuca. This is a view of the river from where the Glines Canyon Dam used to be. (Photo: Andrew Villeneuve/NPI)
      America’s national parks are among the victims of Donald Trump’s and Elon Musk’s efforts to drown our government in a bathtub
    • Glass skyscrapers seen from a low angle, on an overcast day.
      The State of Capitalism in Flux: Economy, Society, and Hegemony under Today’s Interregnum
    • Israel has reduced Gaza to ruins. (Photo: UNRWA)
      Israel is about to empty Gaza
    • George Grosz’s Metropolis (1916-17)
      Comment | The 1930s all over again? Trump and ‘Entartete Kunst’ revisited
    • Trump shaking hands with Salvadoran dictator Nayib Bukele. [Source: bbc.com]
      Trump Administration’s affinity for Salvadoran dictator shows authoritarian nature
    • Hegel reading Heraclitus by Stephen Lahey 2021
      Hegel reading Heraclitus

    Popular (last 30 days)

    • Def. Ministry delivers Nasir cruise missiles to IRGC Navy. Source: Mehd News Agency - wikicommons / cropped form original / CC BY 4.0
      Trump’s war plans for Iran: opening the other gates of hell
    • Trump / Jinping
      Trump 2.0 and China – the real situation of the U.S. economy
    • Trump / Vance
      U.S. VP JD Vance admits West wants Global South trapped at bottom of value chain
    • A late 1940s Soviet poster showing a US military service member lounging on top of a German factory, smoking a cigar. The text beneath reads DER DOLLARIMPERIALISMUS [dollar imperialism].
      US Imperialism in Crisis: Opportunities and Challenges to a Global Community with a Shared Future
    • A crowd of protesters in a public square in Ankara, Tukey.
      What Is Happening in Turkey? The Rentier Opposition and the Resistance
    • Image of President Donald Trump and Brad Karp, Chairman of Paul Weiss. Steven Ferdman/Getty Images; Business Insider
      Trump exposes the elite classes
    • National Museum of African American History and Culture
      Trump orders purge of Black History from Smithsonian, targets African American Museum
    • President Donald Trump / PM Benjamin Netanyahu
      ‘Let all Hell break loose’: The Gaza ceasefire and how we all got played
    • Illustration by MintPress News
      The Pentagon is recruiting Elon Musk to help them win a nuclear war
    • Robert McChesney, a towering figure in the world of media scholarship, passed away on March 25, 2025 at the age of 72. (Photo: Robert McChesney)
      Progressive Movement mourns loss of beloved media scholar Robert McChesney

    RSS MR Press News

    • NEW! ROSES FOR GRAMSCI by Andy Merrifield (EXCERPT) April 7, 2025
    • EXCERPT: Colonial dreams, racist nightmares, liberated futures (from the introduction to A Land With A People) April 4, 2025
    • Towards inclusive science and technology (Knowledge as Commons reviewed in ‘Counterfire’) April 1, 2025
    • A spirit both lyrical and angry (Paraguayan Sorrow reviewed in ‘The Prisma’) February 17, 2025
    • NEW! THE PHYSICS OF CAPITALISM, By Erald Kolasi (EXCERPTS) February 5, 2025

    RSS Climate & Capitalism

    • Ecosocialist Bookshelf, April 2025 April 10, 2025
    • Against the Crisis: Economy and Ecology in a Burning World April 2, 2025
    • Will Mpox be the next global threat to human health? April 2, 2025
    • Under Trump, climate denial is official US policy March 26, 2025
    • Growth or Degrowth? Ecosocialism confronts a false dichotomy March 26, 2025

     

    RSS Monthly Review

    • April 2025 (Volume 76, Number 11) April 1, 2025 The Editors
    • The U.S. Ruling Class and the Trump Regime April 1, 2025 John Bellamy Foster
    • The Dialectics of Ecology and Ecological Civilization April 1, 2025 Chen Yiwen
    • Lao Socialism with Buddhist Characteristics April 1, 2025 Yumeng Liu
    • The Danger of Fascism in the United States: A View from the 1950s April 1, 2025 Paul A. Baran

    This work is licensed under a Creative Commons
    Attribution-NonCommercial-NoDerivatives 4.0 International License.

    Creative Commons License

    Monthly Review Foundation
    134 W 29TH ST STE 706
    New York NY 10001-5304

    Tel: 212-691-2555