A new book rejects traditional left/right distinctions and proposes a series of pragmatic steps to leverage market forces, existing pools of capital, an effective public sector and existing institutions to re-wire capitalism to engage meaningfully with climate risk. Canadian author Tom Rand will discuss The Case for Climate Capitalism: Economic Solutions for a Planet in Crisis at an upcoming virtual event.
With the warming climate and a general distrust of Wall Street and Bay Street, Rand will discuss how this has opened a new cultural divide among those who otherwise agree we must mitigate climate risk. Anti-market critics target capitalism itself as a root cause of climate change while climate-savvy business leaders believe we can largely continue with business as usual by tinkering around the edges of our economic system.
Rand argues that both sides in this emerging cultural war are ill-equipped to provide solutions to the climate crisis, and each is remarkably naïve in their view of capitalism. “On one hand, we cannot possibly transition off fossil fuels without the financial might and entrepreneurial talent market forces alone can unlock. On the other hand, without radical changes to the way markets operate, capitalism will take us right off the climate cliff,” he says.
Rand calls for a renewed capitalism that replaces fossil fuels fast enough to mitigate severe climate risk while building a strong economy that survives the century.
Rand’s work focuses on carbon mitigation as an entrepreneur, venture capitalist, author and speaker. He is managing partner of ArcTern Ventures and sits on the board of a number of clean energy companies and organizations. He also developed Planet Traveler, a low-carbon hotel project in downtown Toronto.
His first book, Kick the Fossil Fuel Habit (2010), was winner of the 2011 Whitepine Non-Fiction award and his second book, Waking the Frog (2014), became a bestseller. Rand has a bachelor of science in electrical engineering from the University of Waterloo, a masters in philosophy of science from the University of London and LSE, and a masters and PhD in philosophy from the University of Toronto. He is also an Action Canada Fellow, and has been a member of a number of federal and provincial advisory boards.
Virtual book talk
In light of the COVID-19 pandemic, the MaRS Discovery District has planned a webcast with dynamic camera work, sound and improved interactivity to capture the spirit of a live talk at the CIBC Live Lounge in the MaRS Discovery District in Toronto.
Environment Journal has a VIP ticket to participate in this talk on April 15, 2020 at 12:30 p.m. – 2 p.m.
For further information about the live book talk by Tom Rand or to register, click here.
For further information about the book, click here.
For further information about MaRS, click here.