South Africa: Climate Crisis Has an Embarrassing Problem That Only Markets and Private Sector Can Solve

analysis

Born in Cape Town, Natale Labia lives in Milan, Italy, and writes on the economy and finance. Partner of private equity firm Lionhead Capital Partners. MBA from Università Bocconi. Supports Juventus.

Climate change is the kind of issue that governments least like to confront. The problem itself is complicated, and the conceivable solutions a daunting combination of expensive, inconvenient, long term and multilateral.

Pitching these solutions to voters is far from enticing: if we all work really hard, make meaningful sacrifices, undertake immense adjustments to our lifestyles, and, most importantly, can ensure that absolutely everyone else will do the same thing, then we might - potentially - not be doomed by the time many of us will anyway be dead.

Not confronting the issues, however, is a luxury that politicians, and voters, simply do not have. Although the climate crisis has made it abundantly clear that this is a problem that is not going to be wished away, the question remains whether governments have the wherewithal to solve it.

As we are by now all aware, about 40,000 heads of state, activists, captains of industry and others gathered in Glasgow at the COP26 conference this month to debate these issues...

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