Published Date: Apr 19, 2019
Western capitalist model blamed for global warming
This was stated by Prof Pritam Singh while giving a lecture on “Sustainability implications of the spatial shift in global capitalism: An eco-socialist perspective” on Thursday.
The lecture was organised by Sustainable Development Policy Institute (SDPI).
According to an SDPI press release, he said: “This capitalist model has failed to conserve environment and ensure sustainable livelihood. Therefore, there is an urgent need of paradigm shift in the advanced capitalist economies and to choose the alternative ‘eco-socialist’ development model to avoid environmental catastrophe in order to save the planet earth.”
Dr Pritam Singh said there was evidence of a significant spatial shift in global capitalism, which had taken place from relatively less populated countries (advanced capitalist economies) of developed world to massively populated countries of developing world (emerging capitalist economies).
He said during the period of 1980 to 2017, there was downward trend observed of developed economies in the share of global GDP, such as the US, UK, Germany and Japan, whereas, there was upward trend in the global share of GDP of developing emerging economies, such as Barzil, India and China.
He said further expansion and deepening of capitalism would bring unprecedented environmental and social destruction.
“The proposed eco-socialism development perspective visualizes a true eco-friendly economy and society that can be built only by replacing capitalism with a class less society,” he remarked.
Dr Pritam Singh warned of dire consequences and irreversible changes caused by climate change if global temperature hit the threshold of 1.5 degree Celsius by 2030.
The world is left with less than 11 years to take serious actions, he added.
“It is collective responsibility including individual consumers, institutional practices, collective organisational initiatives, government targets and policies, and global agreements such as Paris Agreement, to help mitigate the dire consequences of climate change.
Instead following the model of development world, developing economies like Pakistan need to learn from the mistakes of the developed economies and should strive for building self-sufficient economy,” he suggested.
In order to achieve sustainable development, every individual had the responsibility to change consumption behavior and adopt sustainable practices, he emphasised.
Dr Shafqat Munir, Director Policy, SDPI while moderating the session said that the economic policies and development model of the developing economies, such as of Pakistan should be environment-friendly. Without protecting the environment, sustainable development could not be achieved, he said.