Climate–a Profitable Commodity

Climate crisis, no doubt, is threatening all lives on this globe. But, to the capitalist world order, it's a different issue, neither crisis, not a threat to all lives.

And, the UN World Meteorological Organisation released a report—State of the Global Climate 2020—on April 19, 2021 warning that "time is fast running out" to keep global temperatures in check.

Only years back, the entire capitalist system denied that there's crisis in the world of climate. There was well-orchestrated propaganda fuelled by a huge fund. The propaganda by this climate crisis-deniers especially targeted young students in an advanced capitalist economy. These forces had powerful political leaders. They, even, succeeded to hire a few scientists, who sold their logic to the deity of money while bolstering the climate deniers with illogic appearing scientific.

But, now, the scene has changed significantly: A sizable part of the world capital has changed tune—attuning their investment to new area of profit. It's the crisis of capital. Even, a part of capital engaged with fossil fuel has invested and is investing a part of its capital to reap profit from climate crisis. This appeared benevolent when seen in an isolated way—company "x" has invested "y" amount of money for renewable energy or for research to find out combating the climate crisis. This hides capital's, to be specific, the world capitalist system's crime—the crisis has been and is being produced by the system, the system that can keep itself alive only by exploiting nature and labour; and survival tact has produced the crisis.

So, it doesn't astonish anyone when, David Malpass, the World Bank president, describes climate change as an "immense" issue. Mr Malpass was at the recently held annual spring meetings of the IMF and the World Bank.

Within days, Joe Biden, the US president, will host leaders from around the world for a virtual climate summit. Many world leaders are going to join the summit.

But, shall the summit point out the key link to or source of the crisis—the capitalist production system? Methods and approaches will be discussed, ideas and proposals to "combat" the crisis will be mooted. But, the main culprit creating the crisis—capitalism—shall go scot-free, shall not be identified. And, people, the millions facing the crisis, the millions facing the crisis' jaw—losing homes and farm lands, employment, educational institutions and infrastructure—will continue with their lives under the threat of the crisis. And, a part of capital will capitalise on the crisis, a profitable commodity , to reap profit.


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Vol. 53, No. 45, May 9 - 15, 2021