How are modern liberal capitalist economies adapting to the challenges of environmental problems

The challenge presented by continuous degradation of the environment by human activities have elicited increased concern in the last three decades. For instance, observations of increased contribution of emissions to increased greenhouse gas emissions led to the adoption of the Kyoto protocol in 1997 that committed signatory members to pursue strategies to reduce emissions to set targets. Nevertheless, even with the Kyoto protocol, little progress has been made towards the reduction of emissions. For example, in an article published in the  Rolling Stone, Mckibben(2012) argues that it has proven impossible to keep global temperature below two degrees Celsius as agreed-upon in the 2009 Copenhagen climate conference due to the increasing dependence on fossil fuels as sources of energy. In the subsequent parts of this paper, the strategies that modern liberal capitalist economies have adopted to deal with the challenges of environmental problems are discussed.

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