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Where voters and consumers lead on the climate crisis, businesses will have to follow
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Capitalism has divided opinion violently in Glasgow over the past fortnight. Prince Charles rewarded those global businesses delivering on their commitments to net-zero carbon emissions with his Terra Carta award, declaiming that only the private sector could and would deliver, while Mark Carney, co-chair of the Glasgow Financial Alliance for Net Zero, boasted of the $130tn (£97tn) of private investment funds – doubled in six months – committing to invest in companies signed up to net zero. But capitalism, growth, greenwashing and self-seeking lobbying were denounced by activists and NGOs as the root of the problem. Prince Charles and Carney were dismissed as little better than collaborators in our collective downfall.
In truth, a complex
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