Can the world economy survive without fossil fuels?

The past three centuries of progress have been powered by coal, oil and gas. Burning much of what’s left will lead to environmental and economic catastrophe. Here’s how to save the earth without giving up on growth
The final chapters of The Bone Clocks, David Mitchell’s 2014 novel, describe a future in which progress has gone into reverse. In 2043, the fossil fuel age is over: nuclear power stations ar e melting down, there is no access to the electricity grid and solar panels are so prized that they are looted. Catastrophic climate change has become a reality. Rising sea levels have caused floods on the New York City subway, killing thousands. Internet coverage is patchy, food and consumer goods are scarce, and life‑saving drugs such as insulin are hard to come by.

It is a dystopian vision that looks like a brutal, dangerous version of the past – one not at all like the future that was promised when the cold war ended with victory for the western capitalist model. If it comes to pass, it will be because, despite all the warnings, climate change has not been taken seriously enough.
Here is one such warning: “For generations, we have assumed that the efforts of mankind would leave the fundamental equilibrium of the world’s systems and atmosphere stable. But it is possible that with all these enormous changes – population, agricultural, use of fossil fuels – concentrated into such a short period of time, we have unwittingly begun a massive experiment with the system of this planet itself.”
Most of the world has gone in a different direction. In the west, there was a long economic boom that lasted from the early 1990s through to the financial crash of 2007.
In terms of reducing the number of people living below the global poverty line of $1.25 (84p) a day, the post-cold war model of capitalism has been a success. Fewer people go hungry. More have access to healthcare and education
To have a realistic prospect of preventing global temperatures from rising by more than the previously recognised danger threshold of 2C, scientists say it is not possible to burn all the proven fossil fuel reserves owned by companies and governments. Between two-thirds and four-fifths will need to be left in the ground.

In terms of reducing global poverty capitalism has been a success, but this growth has put pressure on the planet

The question, therefore, is whether it is possible to marry two seemingly contradictory objectives. Can we imagine a future that is cleaner, greener and sustainable – one that avoids climate armageddon – without abandoning the idea of growth and, thus, forcing living standards into decline? The answer is that it will be hellishly difficult, but it is just about feasible if we make the right choices – and start making them now.