Obsession with growth is asset stripping the planet

A A A

Obsession with economic growth and the greed of financial speculators are destroying efforts to conserve the world's diminishing resources.

British and French speakers from radically different backgrounds, and with sharply contrasting styles, found themselves singing an unlikely political duet at the Lyon environment forum. Big business, they said, must be stopped from "asset stripping" a failing planet.

Andrews Simms, the policy director of the New Economics Foundation, said the "oil-fired" obsession with growth amounted to "treating the biosphere like a business in liquidation".

Eva Joly, a former French investigating magistrate who once specialised in uncovering corruption in big business, accused hedge funds and off-shore financial havens of encouraging "destructive speculation in hard-pressed resources" including oil, water and land.

The flamboyant Mr Simms amused a mostly French audience at the Lyon Sustainable Planet Forum by illustrating his talk with lurid metaphors.

"A hamster doubles in size each week until about six weeks old, then slows," he said. "If it didn't, on its first birthday you would be facing a nine billion tonne hamster that could eat in a day all the corn produced in the world in a year."

So much, he suggested, for the argument that economic growth, consuming ever larger amounts of finite resources, was the "natural" condition of humanity.

He was joined in a debate on how to preserve the world's resources by Ms Joly, who first came to France as a Norwegian au pair. She went on to become a feared judicial investigator and then an MEP. She is regarded as the likely candidate of the French environment movement in the next presidential election in 2012.

Compared to Mr Simms, Ms Joly's style was dry and factual: still more magisterial than political. She said that there was an often neglected new threat to third world resources from the "constant appetite of hedge-funds for new forms of profitable speculation". Now that the bubble in the property market in the developed world had collapsed, she said, speculators were turning to natural resources and concealing parts of their profits in off-shore accounts.

Mr Simms made a broader argument. He said the world could no longer afford to pursue an economic model based entirely on competition and growth. Mankind must break the "vicious cycle" which assumed that greater wealth and consumption always equalled greater happiness. We would have to seek alternative approaches, based on principles of "equilibrium" – such as "cooperation" and "symbiosis – which were as much present in nature as raw competition.

"If lucky, he said, "we have we 75 months, until the end of 2016, before the accumulation and concentration of greenhouse gases in the atmosphere make it more rather than less likely that global average surface temperatures will rise 2 degrees above pre-industrial levels – critically this is the level around which climate-driven environmental dominoes fall unpredictably."

And yet, the world was hesitating to save itself, he said. "We have submitted control over our own environmental destiny to a set of economic ideas that parade as if they were unquestionable, natural laws."

Sport
Raheem Sterling and Luis Suarez celebrate during Liverpool's game with Norwich
sport Another hurdle is out of the way for Brendan Rodgers' side
Arts & Entertainment
The original design with Charles' face clearly visible, which is on display around the capital
arts + ents The ad shows Prince Charles attired for his coronation in a crown and fur mantle with his mouth covered by a criss-cross of white duct tape
Sport
Steven Gerrard had to be talked into adopting a deeper role by his manager, Brendan Rodgers
sport LIVEFollow the latest news and scores from today's Premier League as Liverpool make a blistering start against Norwich
News
People White House officials refuse to make comment on 275,000 signatures that want Justin Bieber's US visa revoked
VIDEO
Have you tried new the Independent Digital Edition iPad app?
News
Sir Cliff Richard is to release his hundredth album at age 72
PEOPLESir Cliff Richard has used a candid appearance on an Australian talk show to address long-running speculation about his sexuality

Sport
Mourinho lost his temper as well as the match
sportLiverpool handed title boost as Sunderland smash manager’s 77-game home league run
News
The speeding train nearly hit this US politican during a lecture on rail safety
news As the saying goes, you have to practice what you preach
Sport
Mercedes Formula One driver Lewis Hamilton of Britain (front) drives ahead of Red Bull Formula One driver Daniel Ricciardo of Australia during the Chinese F1 Grand Prix at the Shanghai International circuit
sport Hamilton captured his third straight Formula One race with ease on Sunday, leading from start to finish to win the Chinese Grand Prix

Arts & Entertainment
Billie Jean King, who won the women’s Wimbledon title in 1967, when the first colour pictures were broadcast
tv
News
Snow has no plans to step back or reduce his workload
mediaIt's 25 years since Jon Snow first presented Channel 4 News, and his drive shows no sign of diminishing
Life & Style
food + drinkWhat’s not to like?
Voices
Clock off: France has had a 35‑hour working week since 1999
voicesThere's no truth to a law banning work emails after 6pm, but that didn’t stop media hysteria
Arts & Entertainment
Maisie Williams of Game of Thrones now
tvMajor roles that grow with their child actors are helping them to steal the show on TV
Arts & Entertainment
Kingdom Tower
architecture
Life & Style
Lana Del Rey, Alexa Chung and Cara Delevingne each carry their signature bag
fashionMulberry's decision to go for the super-rich backfired dramatically
Have you tried new the Independent Digital Edition iPad app?
iJobs Job Widget
iJobs General

Apprentice IT Technician

£150.00 per week: QA Apprenticeships: This company is a company that specializ...

1st Line Technical Service Desk Analyst IT Apprentice

£153.75 per week: QA Apprenticeships: This company is an innovative outsourcin...

1st Line Helpdesk Engineer Apprentice

£150.00 per week: QA Apprenticeships: This company has been providing on site ...

Sales Associate Apprentice

£150.00 per week: QA Apprenticeships: We've been supplying best of breed peopl...

Day In a Page

How I brokered a peace deal with Robert Mugabe: Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC

How I brokered a peace deal with Robert Mugabe

Roy Agyemang reveals the delicate diplomacy needed to get Zimbabwe’s President to sit down with the BBC
Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'

British Muslims's Happy video attacked as 'sinful'

The four-minute clip by Honesty Policy has had more than 300,000 hits on YouTube
Church of England-raised Michael Williams describes the unexpected joys in learning about his family's Jewish faith

Michael Williams: Do as I do, not as I pray

Church of England-raised Williams describes the unexpected joys in learning about his family's Jewish faith
A History of the First World War in 100 moments: A visit to the Front Line by the Prime Minister's wife

A History of the First World War in 100 moments

A visit to the Front Line by the Prime Minister's wife
Comedian Jenny Collier: 'Sexism I experienced on stand-up circuit should be extinct'

Jenny Collier: 'Sexism on stand-up circuit should be extinct'

The comedian's appearance at a show on the eve of International Women's Day was cancelled because they had "too many women" on the bill
Cannes Film Festival: Ken Loach and Mike Leigh to fight it out for the Palme d'Or

Cannes Film Festival

Ken Loach and Mike Leigh to fight it out for the Palme d'Or
The concept album makes surprise top ten return with neolithic opus from Jethro Tull's Ian Anderson

The concept album makes surprise top ten return

Neolithic opus from Jethro Tull's Ian Anderson is unexpected success
Lichen is the surprise new ingredient on fine-dining menus, thanks to our love of Scandinavian and Indian cuisines

Lichen is surprise new ingredient on fine-dining menus

Emily Jupp discovers how it can give a unique, smoky flavour to our cooking
10 best baking books

10 best baking books

Planning a spot of baking this bank holiday weekend? From old favourites to new releases, here’s ten cookbooks for you
Jury still out on Manchester City boss Manuel Pellegrini

Jury still out on Pellegrini

Draw with Sunderland raises questions over Manchester City manager's ability to motivate and unify his players
Ben Stokes: 'Punching lockers isn't way forward'

Ben Stokes: 'Punching lockers isn't way forward'

The all-rounder has been hailed as future star after Ashes debut but incident in Caribbean added to doubts about discipline. Jon Culley meets a man looking to control his emotions
Mark Johnston: First £1 million jackpot spurs him on

Mark Johnston: First £1 million jackpot spurs him on

The most prize money ever at an All-Weather race day is up for grabs at Lingfield on Friday, and the record-breaking trainer tells Jon Freeman how times have changed
Ricky Gervais: 'People are waiting for me to fail. If you think it's awful, then just don't watch it'

Ricky Gervais: 'People are waiting for me to fail'

As the second series of his divisive sitcom 'Derek' hits screens, the comedian tells James Rampton why he'll never bow to the critics who habitually circle his work
Mad Men series 7, TV review: The suits are still sharp, but Don Draper has lost his edge

Mad Men returns for a final fling

The suits are still sharp, but Don Draper has lost his edge
Google finds a lift into space will never get off the ground as there is no material strong enough for a cable from Earth into orbit

Google finds a lift into space will never get off the ground

Technology giant’s scientists say there is no material strong enough for a cable from Earth into orbit