German sociologist Jens Beckert expresses a pessimistic view of "green growth" in his book How We Sold the Future: The Failed Enterprise to Combat Climate Change. In an interview with the British Financial Times, he stated, "Unless this business model is profitable." Because the motivation of businesses is profit-seeking, executives tend to overlook future climate damages, and governments rely on taxes generated from corporate profits to support their finances—which is precisely the core of how modern societies operate.
Perhaps the recent release of two reports by the World Economic Forum (WEF) can slightly bolster his expectations. The reports found that investments in adaptation, resilience, and decarbonization can deliver tangible returns for businesses and benefit from the growing green market. The size of the green market is expected to increase from $5 trillion in 2024 to $14 trillion by 2030. Among these, sub-sectors such as alternative energy (49%), sustainable transportation (16%), and sustainable consumer goods (13%) hold significant potential, with growth rates far exceeding GDP.