G20 Patting Itself On The Back For Recognizing Carbon Pricing; Would Have Been Useful 30 Years Ago
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It is easy to imagine that a real live existential threat to our way of life would prompt any society to assume war footing and martial everything it has to fight for survival. Unfortunately, this response only takes hold in actual war situations, where the threat is “other people that we can shoot and kill in glorious fashion.” When the threat comes not from enemy people, but from our own nature, we find it much harder to rise to the occasion. Where is the glory in recognizing the folly of our own greed and profligacy? Leaders are not elected on such things. We want leaders who will give us more, leading us ever onwards, upwards, and into the grave.
The latest demonstration of this comes from the G20, that coalition that is as good a proxy as any for the combined will of the world’s richest countries. The latest G20 meeting wrapped up last week without firm commitments on phasing out coal power, or on what steps nations will promise to take to try to hold global warming to 1.5C. This goal is both necessary and, perhaps, unlikely – a report by scientists found that China, Russia, Brazil, and Australia are all pursuing policies that could lead to a cataclysmic five degrees of warming.
The G20 is a perfect model of our collective failure to build institutions capable of coping with deep, long-term, existential problems that cannot be solved by building more weapons. On the one hand, the head of the United Nations says that there is no way for the world to meet its 1.5C warming goal without the leadership of the G20; on the other hand, a recent analysis found that G20 members have, in the past five years, paid $3.3tn in subsidies for fossil fuel production and consumption. The same group that claims to be bailing out humanity’s sinking ship with one hand is busily setting it aflame with the other hand. It is not good to be too pessimistic on climate change, because we must maintain the belief that we can win this battle if we are to have any hope at all. That said, it sure does seem like we’re screwed.
As overwhelming and omnipresent as climate change is, it is not the core issue. The core issue is capitalism. Capitalism’s unfettered pursuit of economic growth is what caused climate change, and capitalism’s inability to reckon with externalities – the economic term for a cost that falls onto third parties – is what is preventing us from solving climate change. Indeed, climate change itself is the ultimate negative externality: fossil-fuel companies and assorted polluting corporations and their investors get all the benefits, and the rest of the world pays the price. Now the entire globe finds itself trapped in the gruesome logic of capitalism, where it is perfectly rational for the rich to continue doing something that is destroying the earth, as long as the profits they reap will allow them to insulate themselves from the consequences.
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https://www.theguardian.com/commentisfree/2021/aug/04/climate-change-crisis-environment-politics