No capitalist solution to climate change

climate-changeA recent report from the UN International Panel on Climate Change has warned of “severe, pervasive and irreversible” effects of global warming if the world keeps burning fossil fuels at current rates. Temperature increases of between 3.7C and 4.8C by the end of the century would likely result in “substantial species extinction, large risks to global and regional food security” and widespread impact “on normal human activities…” the report warns. The highest level risks include worsening food and water insecurity in Africa and Latin America, and flooding in North America and Asia, with the worlds poorest hit hardest.

Despite repeated warnings from scientists about the urgency of the climate crisis, the emissions targets they project would prevent a greater than 2% global temperature rise will not even be on the table as governments meet in Paris to discuss the threat. Instead the focus will be on market-based solutions and inadequate voluntary non-binding agreements between states. This demonstrates yet again the inability of the profit-driven system and its competing corporate and political elites to provide a solution, highlighting the need for the democratic socialist planning of the global economy.

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