Eco-capitalism
| Part of a series on |
| Green politics |
|---|
.svg) |
Eco-capitalism, also known as environmental capitalism or green capitalism, is the view that capital exists in nature as "natural capital" (ecosystems that have ecological yield) on which all wealth depends, and therefore, market-based government policy instruments (such as cap and trade systems) should be used to resolve environmental problems.[1]
The term "Blue Greens" is often applied to those who espouse Eco-capitalism. It is considered as the right-wing equivalent to Red Greens.[2]
Transition to Eco-capitalism
The ideology of eco-capitalism was developed to satisfy two competing needs: 1) the desire for generating profit by businesses in a capitalist society and 2) the urgency for proper actions to address the struggling environment in the face of human activity. Under the doctrine of eco-capitalism, businesses commodify the act of addressing environmental issues.[3]
In the transition to eco-capitalism, many businesses:
- adopt full cost accounting,
- Environmental full cost accounting summarizes corporate actions on the basis of the triple bottom line, which is best summarized as "people, planet, and profit". As a concept of corporate social responsibility, full cost accounting not only considers social and economic costs and benefits but also the environmental implications of specific corporate actions. [4]
- employ the Genuine Progress Indicator as basis of economic reform
- support the use of pollution credits to encourage businesses to adopt anti-pollution technologies
- develop green technologies and "eco-friendly" products
- stress "green consumption"
Criticisms of Eco-Capitalism
There has been much speculation over green capitalism due to the monetary system being Capitalism over the recent years. Backlash began as environmental agencies and laws became established, noting many natural resource constraints due to higher taxes on environmental companies. This included free market environmentalism which emphasized the positive incentives associated with prices, profits and entrepreneurship, as opposed to political environmentalism, which emphasizes negative incentives associated with regulation and taxes.[5]
A common criticism of Eco-capitalism is that capitalism can never be sustainable because it is a "greed driven system" and that capitalism is inherently expansionist in tendency.[6]
Critics also claim that green consumption, sustainable behavior on the part of the consumer, is not enough to be instituted as a socio-environmental solution. Consumers do not have direct power over the market, and should not be held accountable. [7]
See also
Further reading
- Chapple, Stephen (2001) Confessions of an Eco-Redneck: Or how I Learned to Gut-Shoot Trout and Save the Wilderness at the Same Time. Perseus Publishing. ISBN 0-641-54292-5
- Comolet, A. (1991) "Le Renouveau ecologique. De l'eco-utopie a l'eco-capitalisme" [The Ecological Renewal. From Eco-Utopia to Eco-Capitalism], Futuribles, 157(Sept.), 41-54.
- Corporate Watch (2016). "An A-Z of Green Capitalism". Corporate Watch, London.
- d'Humières, Patrick (2010) Le développement durable va-t-il tuer le capitalisme? Editions Maxima
- Lovins, Amory B & Hunter Lovins (1997) Factor Four. Doubling Wealth - Halving Resource Use, with Ernst von Weizacker. Earthscan Publications Ltd, London
- Pons Rullan, Bartolome (2015) Ecoliberalismo. ¡Hay alternativas al Capitalismo! Ed. Verbum ISBN 978-84-9074-266-2
- Sarkar, Saral (1999) Eco-Socialism Or Eco-Capitalism? A Critical Analysis of Humanity's Fundamental Choices
- Porritt, Jonathon (2005, revised 2007) Capitalism: As if the World Matters. Earthscan Publications Ltd, London. ISBN 978-1-84407-193-7
References
- ^ "Definition of Eco-Capitalism". collinsdictionary.com. Retrieved 27 November 2015.
- ^ "The rise of green capitalism". roadtoparis.info. Retrieved 27 November 2015.
- ^ Prothero, Andrea; Fitchett, James (June 2000). "Greening Capitalism: Opportunities for a Green Commodity". Journal of Macromarketing. 20 (1): 46-55.
- ^ Griffiths, M.R; Lucas, J.R. (November 16, 2016). Value economics: the ethical implications of value for new economic thinking. Palgrave Macmillan UK. ISBN 9781137541864.
- ^ "The Myths of "Green Capitalism", by <a href=". newpol.org. Retrieved 2017-02-26.
- ^ Juniper, Tony. "Capitalism v environment: can greed ever be green?". theguardian.com. Retrieved 27 November 2015.
- ^ Graças e SilvaI, Maria; et al. (2012). ""Conscious consumption": ecocapitalism as ideology". Rev. katálysis. 15, 1.
{{cite journal}}: Explicit use of et al. in:|last=(help)