Global discussions on climate change have revealed the deleterious effects of the main features of contemporary capitalism. First, the commodification of natural resources is a feature of the long-run process of financial expansion characterized as the financialization of the capitalist economy where social vulnerabilities have increased – mainly in developing countries. Second, market deregulation opened up new energy investment patterns in a context where institutional investors have assumed an active role in the selection of high profit potential projects. Under the expansion of monopoly-capital, deep concerns have arisen, since energy policies could pass down social and environmental safeguards.
Considering this background, it is a must for Green Economists to understand on of how climate change touches on development theories. Taking into account the relevance of these issues, some contemporary discussions should be called for reflection:
Could alternative energy policies be implemented in the short-run as they could play a decisive role in sustainable economic growth?
How can new energy policies be articulated to financial and social policies?
Are the US moving toward changes in energy patterns?
Is China interested in building a strong partnership with other developing countries so as to face climate change vulnerabilities?
Is another economic pattern of global development possible?