When Capital Is An Engine Of Humanity's Collapse

2025-05-22 05:02:09

(MENAFN- Asia Times) On paper, the global financial system was built to allocate capital toward the most productive uses. But in practice, it has often become a force that funds collapse, with growing speed and sophistication.

We now live in an era where capital has lost its moral compass, accelerating the very crises it claims to mitigate and solve. Finance, instead of being a servant of life, has become its master - setting the rules for who gets to dream, who gets to survive and whose futures are deemed“bankable.”

In 2022, global fossil fuel subsidies reached US$7 trillion, about 7.1% of global GDP, according to the International Monetary Fund (IMF). Meanwhile, total global climate finance remains around $1.3 trillion per year, falling short by more than $2.4 trillion annually to meet the Paris Agreement's 1.5°C target of limiting global warming.

That means we are financing destruction five times more than we are funding preservation. We are not merely failing to solve the crisis - we are actively underwriting it.

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