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A WORLD BEYOND CAPITALISM | Jason Hickel and Yanis Varoufakis
Eye Of The Storm Podcast (with Yanis Varoufakis and Raoul Martinez)
Challenges of Capitalism in Achieving Ecological Sustainability
The growth imperative of capitalism poses a significant challenge to achieving ecological sustainability. Continued economic growth in high-income nations hinders rapid decarbonization efforts essential to meeting Paris Agreement goals and makes it difficult to reduce material use, a key driver of biodiversity loss. While GDP can be decoupled from CO2 emissions, achieving this decoupling rapidly is crucial. Despite occasional examples of GDP growth alongside declining CO2 emissions, such instances do not indicate compatibility between capitalism and ecological objectives. High-income countries must achieve rapid emissions reductions to comply with their fair shares of Paris Agreement carbon budgets, a task surpassing even the top performers of today.
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