The earth is facing major – and quite possibly irreversible – environmental catastrophe and ecological breakdown. No need to panic. The Paris climate agreement was a resounding success, was it not?
On the one hand, one set of researchers estimate that at our current trajectory, we have about a 5% chance of remaining below the 2C threshold set out in the Paris agreement in 2015. On the other, a recent audit of the agreement conducted by the United Nations (UN) made it clear that even if the Paris agreement was to be met in full, it won’t be enough of a shift to avoid a total planetary clusterfuck of epic proportions. In his statement on the matter, head of UN Environment Erik Solheim suggested that “if we invest in the right technologies, ensuring that the private sector is involved, we can still meet the promise we made to our children to protect their future”.
What if the “private sector” is the problem? In order to decode the question we need to be clear what the private sector is, what its objectives are, and the kind of power it has over environmental policy.