Can we trust that capitalism will solve climate change? – Marketingwithanoy

At TC sessions: Climate 2022 Last week we tackled an age-old question: are companies really that bad?

Your answer may change depending on which side of the bed you wake up on any given morning and whether you think Amazon is currently trying to destroy a grassroots labor movement. Some have a more positive perspective, at least when it comes to climate-related issues.

On Marketingwithanoy’s Found podcast, Kentaro Kawamori, co-founder and CEO of carbon accounting firm Persefoni, said climate change was caused by capitalism — and that capitalism will fix it.

“Capitalism created the climate crisis because we wanted cheap, reliable access,” Kawamori explained on our podium. “So the way capitalism solves this is by responding to the market demand for greener products.”

We know that large corporations have an excessive influence on climate change, so according to Kawamori’s logic, corporations should be held accountable for undoing their destruction. A 2017 report found that just 100 companies are responsible for 71% of global emissions.

We want businesses to do better, but understanding how best to achieve that isn’t easy. For example, air travel accounts for 9% to 12% of transportation emissions in the US, and airline JetBlue has committed to reaching net zero by 2040. But even if JetBlue threw its profits out the emergency exit and decided to refuel all of its planes with sustainable jet fuel tomorrow, it can’t – there just isn’t enough of it.

JetBlue Technology Ventures, the airline’s investment arm, is part of the company’s climate plan, investing in companies that strive to make air travel more sustainable.

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