For more than a century, extractive industry and capitalism have dominated the developed world’s economies. Some of the biggest companies in the world produce and sell oil and gas, and those commodities have made countries and people very wealthy. But they’re also a major source of pollution and contributor to the climate crisis. In response, many of these companies have started investing in renewable energy, others have completely shifted their focus to clean solutions.
Akshat Rathi’s new book Climate Capitalism delves into this shift and argues that saving the earth is economically more advantageous than destroying it.
So, what is climate capitalism? How can this new approach facilitate climate innovation and economic growth? And what will it take to move away from traditional capitalism?
This week host Bill Loveless talks with Akshat about his new book and how reforming the current economic system can address climate change and be profitable.
Akshat is a senior climate reporter for Bloomberg News. Prior to Bloomberg, he was a senior reporter at Quartz and a science editor at The Conversation. His new book, Climate Capitalism: Winning the Race to Zero Emissions and Solving the Crisis of our Age has been named one of the best books of the year by the The London Times and The Economic Times.