Scott Morrison says, the solution to the climate crisis is capitalism

The COP26 climate summit brought many views of world statesmen. While some are calling for government regulations to achieve carbon neutrality, according to Australian Prime Minister Scott Morrison, the solution to the climate crisis is capitalism rather than government intervention. "Government intervention would only make everyday life more expensive for most households and would also endanger many companies," Morrison said. Last month, after a long debate, Morrison pledged to achieve zero emissions by 2050, but said it would not enshrine the target in any law. Australia, one of the world's largest suppliers of fossil fuels, will also continue to rely heavily on projects to offset pollution that contributes to global warming. "Ultimately, climate change will be solved by capitalism, not governments that try to control people's lives and tell them what to do, through regulations and taxes that only increase the cost of living and force some companies to close," Morrison explained. Australia thus intends to go the way of supporting companies that invest in sustainable projects. For example, the local strategy for electromobility will not include a deadline for phasing out the sale of new petrol cars, but instead a new low-emission technology fund will be created, sponsored by the government in the amount of one billion Australian dollars. One of the areas the fund should focus on is carbon capture and storage. "Our journey will be quite different from the relatively small, densely populated, service-based advanced economies of the North Atlantic," Morrison said. "According to our plan, Australians will not have to change their lifestyles, nor will we have to change our economy in order to achieve zero emissions," the prime minister added. Australia was the only country to receive zero emission scores in the climate policy survey between the 60 countries and the European Union, according to the annual Climate Change Performance Index report published this month. Kazakhstan came in last in all indicators, including energy consumption, emissions and the introduction of renewables. Among the G20 countries, Saudi Arabia finished the worst.