In this fascinating interview with Professor Brett Christophers from Uppsala University, we dive deep into the complex relationship between finance, energy markets, and the global climate crisis, as explored in his new book The Price Is Wrong: Why Capitalism Won’t Save the Planet. Brett provides critical insights into why global greenhouse gas emissions continue to rise despite falling renewable energy costs. He explains how governments worldwide have effectively outsourced decarbonization to the financial sector, expecting private markets to lead the way in renewable energy investment.

This episode sheds light on the structural and profitability constraints that hinder the pace of the renewable energy transition, challenging the widely held belief that the solution lies solely in market-driven mechanisms. Brett critiques the reliance on financial markets to redirect capital away from fossil fuels and highlights the geopolitical and financial intricacies surrounding energy security. Through a detailed examination of energy economics, we explore why big oil and gas companies remain highly profitable and resistant to change—even in a world urgently demanding decarbonization.

Brett Christophers is a political economist and professor at Uppsala University in Sweden. His work focuses on economic geography, with a particular emphasis on the intersections of finance, land and capitalism. Brett's the author of several influential books exploring the dynamics of land ownership, finance and economic power, including The New Enclosure, Rentier Capitalism, and most recently, The Price is Wrong: Why Capitalism Won't Save the Planet.