We are taking a devastating risk with the green energy sector – one that might cost us our future

Relying on private companies to solve the climate crisis means that the planet’s fate rests in the hands of asset managers.
February 27, 2024

From The Guardian - Climate Change

Full title:
“We are taking a devastating risk with the green energy sector – one that might cost us our future | Brett Christophers”


  • We are living through perhaps the biggest and most important policy experiment in human history, without even being aware of it: we have been relying primarily on the private sector to put an end to the climate crisis. But this experiment increasingly looks like a mistake, and one that may cost us our planetary future.
  • Take the S&P Global Clean Energy Index, which measures the stock performance of leading companies in clean energy, especially solar and wind power. Since the beginning of 2021, this index has lost more than half its value. Champions of the sector waved this off as a teething problem. But now more than three years have passed.
  • Generally speaking, governments – again, putting China notably aside – have placed responsibility for “solving” the climate crisis squarely on the private sector. In particular, they have asked it to do the heavy lifting of substituting clean for dirty energy, with governments’ roles limited to providing incentives of various kinds, such as long-term revenue guarantees in the UK’s case, and tax credits in the US.

Brett Christophers is a professor in the Institute for Housing and Urban Research at Sweden’s Uppsala University and author of The Price is Wrong: Why Capitalism Won’t Save the Planet


Read the full post at The Guardian - Climate Change.

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