Colombian President Gustavo Francisco Petro Urrego spoke at the World Economic Forum (WEF) held in Davos, Switzerland about how modern capitalism may doom humanity.
Petro discussed other members of the panel about how the planet is reaching “a point of no return’ in regard to combating climate change.
“[We] talk about policy and politically correct discourses when we know that the statistics mean that we are reaching a point of no return?”
He added that such a course may lead to “the extinction of life.”
Petro described modern capitalism as environmentally unsustainable.
“Can the capitalism that we have known in the last 30, 40 years overcome the climate crisis that capitalism helped create?” he rhetorically asked.
“The capitalism that we know nowadays has a driving force and logic, and that is to increase our profits in such a way, and that’s how we talk about history to regulate everything without political or social boundaries,” he warned. “That’s the one we have. This has resulted in some sort of global anarchy.”
Petro went on to say how energy resources like “coal, oil and gas” are used to maximize profits, “and this has resulted in a change in our atmosphere.”
He warned this current economic behavior will doom the planet.
“We have to put an end to this if we wish to live in our planet. Can our capitalism do this? Based on the current data, we won’t be able to do so,” Petro said. “Therefore, perhaps we should do the following reflection: If capitalism is unable to do so either humanity will die with it, or humanity will overcome capitalism so that we can live in our planet.”
He proposed “de-carbonized capitalism” as an alternative, where fossil fuels are not valued. He also suggested that laws proposed by COP, or “UN Conference of the Parties” climate change summits, should be binding mandates.
“Therefore, world trade agreements and the International Monetary Fund agreements are subjected to climate agreements, not the other way around,” he said.
He predicted unless this plan he proposed is followed that humanity will be heading towards extinction.