Shift Key with Robinson Meyer and Jesse Jenkins

A New Grand Theory of Why Decarbonization Is So Hard

22 snips
Jun 11, 2025
Jessica Green, a political science professor at the University of Toronto and author of 'The Existential Politics of Climate Change,' dives into the complexities of decarbonization. She critiques traditional views on climate action, proposing a focus on asset ownership instead. The conversation highlights the political risks of transitioning away from fossil fuels and the challenges posed by collective action. Green advocates for a pragmatic approach to climate policy, underscoring the need to navigate the nuances of ownership dynamics and regulatory hurdles in achieving net zero emissions.
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INSIGHT

Asset Revaluation Drives Climate Politics

  • Climate change politics centers around asset ownership and valuation rather than solely collective action problems.
  • Fossil asset owners resist decarbonization because their assets lose value, unlike vulnerable and green asset owners.
INSIGHT

Asset Specificity Shapes Resistance

  • Asset specificity of physical and human capital impacts political resistance to climate policies.
  • Those heavily invested in fossil infrastructure fiercely oppose policies that could devalue them due to poor redeployment options.
INSIGHT

Build Green Assets, Constrain Fossil

  • Voluntary net zero, carbon offsets, and supply chain greening do not effectively address asset revaluation.
  • Meaningful climate action requires building green asset owners and constraining fossil asset owners' material and political power.
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