Climate as Investment


  • Larry Lohmann

    1. ( works with The Corner House, a UK-based research and advocacy organization. His books include Pulping the South: Industrial Tree Plantations in the Global Paper Economy (with Ricardo Carrere) (Zed, 1996) and the edited volume Carbon Trading: A Critical Conversation on Climate Change, Privatization and Power (Dag Hammarskjold Foundation, 2006). He is a founding member of the Durban Group for Climate Justice and his articles have appeared in journals such as Accounting, Organizations and Society; Asian Survey; Bulletin of Concerned Asian Scholars; Development; International Journal of Environment and Pollution; New Scientist; Race & Class and Science as Culture.
    Search for more papers by this author

  • The author would like to thank Jutta Kill, Chris Lang, Oscar Reyes, Servaas Storm and anonymous referees of Development and Change for their comments and suggestions.


The climate crisis and the credit crisis have made the political issues surrounding investment and finance more critical than ever before. Proposals for ‘Green New Deals’ and the like — aimed at tackling both global warming and global recession — are streaming forth worldwide. Yet many such proposals are incoherent in that they overlook the need for an immediate start to a programme of phasing out both fossil fuels and purported fossil fuel substitutes such as nuclear power and industrial-scale agrofuels. They also tend to rely on Northern-biased conceptions of technology transfer and intellectual property that the climate crisis has helped make obsolete. To overcome these problems, future climate movements will have to focus increasingly on the democratization of research, planning and finance.