"The climate crisis is complicated and requires a balance of considerations. Instead of focusing efforts on making the ‘green’ economy most profitable, we should focus on reducing how much energy we use, producing energy more sustainably, and ensuring that we are not leaving workers and communities behind. We cannot just hope that the market will solve the problem. It is unlikely to do so.
For example, the Canadian Infrastructure Bank and the Canadian Growth Fund are two federal government initiatives premised on the hope that for every dollar of public money we spend, we will supposedly leverage $2, $3, $5, $10 of private capital to advance public goods. And that has never panned out because at the end of the day, we are just asking and hoping that the private sector will deliver public goods. But private investors will not do that unless they think they will make a profit. Some of these projects are either not inherently profit-making, or they require long-term investments that might make a profit eventually but not in the short term.
To make matters worse, under the current market model, the state provides subsidies and other support for private investments that would have been made anyway. For example, the government might provide a 40% tax credit, but the company was going to build that wind farm anyway, and they pocket the extra 40%. That is not a very good use of public money."
https://socialistproject.ca/2025/02/climate-finance-limits-of-market-fundamentalism/