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Climate Capitalism

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  • 4 b/w illus. 3 tables
  • Page extent: 222 pages
  • Size: 228 x 152 mm
  • Weight: 0.5 kg

Library of Congress

  • Dewey number: 363.738/746
  • Dewey version: 22
  • LC Classification: HC79.P55 N49 2010
  • LC Subject headings:
    • Emissions trading
    • Climatic changes--Economic aspects
    • Pollution--Economic aspects
    • Capitalism
    • Globalization

Library of Congress Record

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 (ISBN-13: 9780521194853)

Manufactured on demand: supplied direct from the printer

$99.00 (P)

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.


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.

Prize Winner

Runner-up for the ISA Sprout Award


"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

"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, former Chief Scientific Adviser to the UK Government and Director of the Smith School of Enterprise and the Environment, University of Oxford

"Climate change we know is intrinsically linked to the model of economic growth in the world. Neo-liberal economists today accept that climate change is the market's biggest failure. But still the world is looking for small answers to tinker its way out of the problem of growth. It is time we looked for new ways of ‘business unusual’. This is why this book, Climate Capitalism, is timely. It helps us understand the crisis, but also the opportunity to reinvent growth without pollution. Read it because you must." - Sunita Narain, Director of the Centre for Science and Environment, New Delhi

"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." - Professor Lord Tony Giddens, London School of Economics and Political Science, 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, Senior Fellow, Climate Change Group, International Institute for Environment and Development

"Governments, businesses and people the world over are grappling with how to tackle climate change, preferably without sacrificing living standards and lifestyles. Is "green capitalism" possible or a contradiction in terms? Will emerging forms of governance manage the potential and pitfalls of carbon markets in ways that achieve climate justice? Informed by two decades of climate scholarship, the authors provide an accessible entry to these big policy questions of the day. Backed by careful research, their balanced analysis will help inform not only all those interested in climate regulation but all those who see climate change as a harbinger of broader debates and choices about forms of global governance and the future shape of the global economy." - Farhana Yamin, former Research Fellow, Institute of Development Studies, University of Sussex

"It is now clear that capitalism as usual is not up to tackling the challenge of climate change. Under what conditions might capitalism be transformed to generate growth through low carbon development? Climate Capitalism addresses this most pressing of issues in an informed and accessible way. It is essential reading for governments, businesses and concerned citizens alike." - Rt. Hon Michael Meacher M.P. and former UK Minister of the Environment

"The core of book discusses the awakening of financial actors to climate change and the development of financial markets and instruments, from catastrophe bonds to the European Trading System. This is climate capitalism at work, and the authors cover the complex ground admirably. ... The book concludes with a number of provocative scenarios." -

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