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Sustainable capitalism
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| Climate change and society |
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Sustainable capitalism is a conceptual form of capitalism based on sustainable practices that seek to preserve humanity and the planet, while reducing externalities and bearing a resemblance of capitalist economic policy. A capitalistic economy must expand to survive and find new markets to support this expansion.[1] Capitalist systems are often destructive to the environment as well as certain individuals without access to proper representation. However, sustainability provides quite the opposite; it implies not only a continuation, but a replenishing of resources.[2] Sustainability is often thought of to be related to environmentalism, and sustainable capitalism applies sustainable principles to economic governance and social aspects of capitalism as well.
The importance of sustainable capitalism has been more recently recognized, but the concept is not new. Changes to the current economic model would have heavy social environmental and economic implications and require the efforts of individuals, as well as compliance of local, state and federal governments. Controversy surrounds the concept as it requires an increase in sustainable practices and a marked decrease in current consumptive behaviors.[3]
This is a concept of capitalism described in Al Gore and David Blood’s manifesto for generation investment management to describe a long-term political, economic and social structure which would mitigate current threats to the planet and society.[4] According to their manifesto, sustainable capitalism would integrate the environmental, social and governance (ESG) aspects into risk assessment in attempt to limit externalities.[5] Most of the ideas they list are related to economic changes, and social aspects, but strikingly few are explicitly related to any environmental policy change.[4]
- ^ Mitra, Basavadatta; Gadhok, Saagar; Salhotra, Shivam; Agarwal, Sakshi (2011). "The convergence of sustainable capitalism". 2011 IEEE International Professional Communication Conference. pp. 1–7. doi:10.1109/IPCC.2011.6087226. ISBN 978-1-61284-779-5. S2CID 31292223.
- ^ Schweickart, David (1 January 2009). "Is Sustainable Capitalism an Oxymoron?". Perspectives on Global Development and Technology. 8 (2–3): 559–580. doi:10.1163/156914909X424033.
- ^ E., Harrison, Neil (2013-01-01). Sustainable Capitalism and the Pursuit of Well-Being. Routledge. ISBN 9781306218047. OCLC 866837827.
{{cite book}}: CS1 maint: multiple names: authors list (link)[page needed] - ^ a b Gore, Al; Blood, David. "A Manifesto for Sustainable Capitalism" (PDF). Archived from the original (PDF) on 2015-12-10.
- ^ "Sustainable Capitalism" (PDF). Retrieved February 18, 2017.
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