Capitalism hates us. We needn’t look far for proof. Firestorms, hurricanes, floods, derechos—capitalism is inimical to the continued existence of life on Earth. Twenty-first century investment banks may trumpet their commitments to climate policy, but the people who run so-called responsible investing units show how little they care about this destruction. In a 2022 conference presentation, the head of responsible investing for HSBC’s asset management unit said: “Climate change is not a financial risk that we need to worry about. . . . Who cares if Miami is six meters underwater in 100 years? Amsterdam’s been six meters underwater for ages, and that’s a really nice place. We will cope with it.” It is precisely this lack of concern that we see in the Trump administration’s assault on the regulatory state, in billionaires constructing apocalypse hideaways, and in the global rise of fascism. Capitalism encourages those with resources to assume that they’ll be able to cope, while the rest of us burn, drown, or starve.
