Confronting climate change is now understood as a problem of 'decarbonising' the global economy: ending our dependence on carbon-based fossil fuels. This book explores whether such a transformation is underway, how it might be accelerated, and the complex politics of this process. Given the dominance of global capitalism and free-market ideologies, decarbonisation is dependent on creating carbon markets and engaging powerful actors in the world of business and finance. Climate Capitalism
assesses the huge political dilemmas this poses, and the need to challenge the entrenched power of many corporations, the culture of energy use, and global inequalities in energy consumption. Climate Capitalism
is essential reading for anyone wanting to better understand the challenge we face. It will also inform a range of student courses in environmental studies, development studies, international relations, and business programmes. 'The question of whether and under what terms capitalism can cope with climate change is the most important and challenging of our age. Climate Capitalism
addresses this issue in an accessible and timely manner. It is required reading for all.' Sir David King, University of Oxford 'In commentary on global climate change, the issue of whose views to trust is itself one also now fraught with increasing uncertainty. The views of Newell and Paterson in this helpful book Climate Capitalism
are trustworthy and important. They need to be considered widely, seriously and urgently.' Aubrey Meyer, Global Commons Institute, London 'This is the best book yet written on the complex connections between climate change policy, markets and capitalism more generally. Written in an impartial and balanced way, the work should become a standard text in the field.' Lord Tony Giddens, London School of Economics and Political Science, and author of The Politics of Climate Change 'Climate Capitalism
by Peter Newell and Matthew Paterson provides a comprehensive review of the market in carbon reductions as well as the challenges that tackling climate change poses to capitalism more generally. While accepting that the model of global capitalism being followed so far in most of the world may need to be changed to a new, more sustainable, paradigm in the longer term, we need to start from where we are and harness the positive forces of capitalism towards solving the climate change problem rather than exacerbating it. It is an excellent book that anyone interested in the economics of climate change should read.' Saleemul Huq, Seni
Preface; Acknowledgements; List of acronyms; 1. Introducing climate capitalism; 2. Histories of climate, histories of capitalism; 3. Climate for business: from threat to opportunity; 4. Mobilising the power of investors; 5. Searching for flexibility, creating a market; 6. Caps, trades, and profits; 7. Buying our way out of trouble; 8. The limits of climate capitalism; 9. Governing the carbon economy; 10. What futures for climate capitalism?; Conclusions; Glossary; Index.