In the collective imagination, the fight against climate change and environmental degradation is driven by altruistic values and concern for the well-being of future generations. However, a less idealistic reality emerges beneath the optimistic discourse: sustainability is transforming into the next big global business.
Although many projects are born out of solidarity and non-profit commitment, a growing wave of corporations and multinationals see environmental crises as an opportunity to generate billions in profit. This dynamic raises a critical question: who truly benefits from the green economy, and who will foot the bill?
The rise of the green market
Climate change and its impacts are reshaping global markets at a rapid pace. According to consultancy McKinsey & Company, the investments required to achieve carbon neutrality could exceed $275 trillion by 2050, spanning sectors such as renewable energy, waste management, ecosystem restoration, and sustainable transport. Companies like Tesla, BP, and Unilever have already diversified their operations, betting on clean and sustainable technologies.
Recycling is another booming market. According to the Organisation for Economic Co-operation and Development (OECD), the global plastic recycling market will reach $60 billion by 2030. However, less than 9% of the plastic produced annually is actually recycled, leaving vast margins for improvement that companies like Veolia, Waste Management, and Suez are eager to capitalise on. These recycling giants are investing in new technologies and expanding their operations to dominate a sector that promises high profitability in the coming decades.
Additionally, major tech corporations like Google and Amazon are investing in renewable energy projects. Google, for instance, has committed to operating exclusively with carbon-free energy by 2030. These companies aim not only to reduce their environmental footprint but also to position themselves as leaders in a market already moving billions of dollars.
The citizens' bill
While corporations prepare to capitalise on sustainability, the general public continues to finance much of this transition. Most economic incentives for green projects, such as tax credits for solar energy or subsidies for waste management, come from public funds. In Europe, consumers finance the emissions trading system through increases in their energy bills. In the United States, the government has allocated over $369 billion under the Inflation Reduction Act (IRA) to boost the green economy, an expense that ultimately falls on taxpayers.
On the other hand, marginalised communities are among the most affected by this model. In regions like Southeast Asia, countries such as the Philippines and Indonesia face mountains of plastic waste sent from developed nations. These societies, already grappling with poverty and inequality, now also deal with the consequences of a global economy that externalises its environmental problems. In Indonesia, for example, the Citarum River—considered one of the most polluted in the world—illustrates how weak regulations perpetuate a system that disproportionately impacts the most vulnerable populations.
The paradoxes of the green economy
Sustainability, as currently conceived, largely depends on the same system that has exacerbated environmental crises. For example, while companies like Nestlé and Coca-Cola promote recycling and plastic reduction programmes, these same corporations are responsible for producing millions of tonnes of plastic waste annually. According to Break Free From Plastic, both companies have been identified as the world's top plastic polluters in consecutive global audits since 2018.
Despite technological advances, the logic of profit maximisation continues to prevail. In many cases, green solutions are not designed to address the root causes of problems but to offer a profitable way of mitigating them. This perpetuates a system in which social and economic inequalities are merely shifted to a new green framework.
Impact on marginalised communities
The rise of the green economy not only perpetuates economic inequalities but also directly affects communities already facing significant challenges. In sub-Saharan Africa, for instance, reforestation projects often displace indigenous communities from their lands.
According to the Oakland Institute, many carbon offset initiatives, promoted by companies like Shell and BP, have resulted in forced evictions in countries such as Uganda and Kenya. These communities, which have historically maintained a sustainable relationship with their natural environments, now face a dual burden: losing their lands and seeing their traditional ways of life replaced by corporate models.
For sustainability to be truly inclusive and effective, the current model must be rethought. Policies should prioritise not only the ecological transition but also social justice. This means ensuring that marginalised communities are not the most affected by the costs of this transition and that economic benefits are distributed more equitably.
Governments must play a more active role, strictly regulating corporations and ensuring that their green projects meet ethical and environmental standards. Moreover, it is crucial to empower local communities, allowing them to lead initiatives that respond to their own needs and contexts.
Sustainability should not become a corporate monopoly disguised as an environmental solution. While it is true that profits can drive innovation, relying solely on the market to solve global problems risks deepening inequalities and shifting the costs onto those least able to bear them. True sustainability is not measured solely in economic terms but in how we transform systems to ensure a fair future that respects the planet and its inhabitants.