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Without deep transformations in the economy that go beyond incremental gains in decarbonization, we remain on course for catastrophic global heating. Some businesses have pledged to go carbon-neutral, carbon-trading schemes are expanding, and a growing divestment movement has pressured investment funds to shun fossil fuel producers. But financial forces are also part of the problem, still driving more production and consumption of fossil fuels. Achieving transformational shifts in finance, production, and governance calls for a more disruptive politics underpinned by shifts in power relations.
Peter Newell (2021) studied this question.