Is climate change a problem, sure that’s pretty well established, but there are lots of groups out there that see it as an opportunity to make money or entrench their interests and we have to be highly cautious of that. Lots of the climate money is chasing ineffective solutions at a local level that have little impact to the overall climate change problem but add significant cost and regulatory burden.

Capitalist theory presumes that if the need is real, efficient and effective solutions will drive out inefficient and ineffective solutions. The basic problem right now is that there is no economic case for climate solutions because the impact of industry on the environment has been historically externalized.

From a legislative standpoint, the argument at hand is one of rewriting the equation over a longer time frame and across a broader system. Simply put, the argument is that the stakeholders of any physical process are anyone whose well-being is affected by the process. Which drags capitalism kicking and screaming into the socialist sphere which is why Western countries are fighting so hard.