This Changes Everything: Capitalism vs. The Climate

by Naomi Klein

Branson refused to answer direct questions about how much he had spent, writing that “it’s very hard to quantify the total amount we’ve invested in relation to climate change across the Group,” and his labyrinthine holdings make it hard to come up with independent estimates. “I’m not very good with figures,” the billionaire has said about another murky corner of Virgin’s empire, adding “I failed my elementary maths.” Part of the confusion stems from the fact that it’s unclear what should be counted toward the original $3 billion pledge. It began as a targeted quest for a miracle green fuel, then expanded to become a search for clean technologies generally, then, apparently, eco-anything. Branson now says that he is counting “investments made by individual Virgin companies in sustainability measures, such as more efficient fleets” of planes. More recently, Branson’s fight against global warming has centered around various attempts to “green” his two private islands in the Caribbean, one of which serves as his deluxe family compound and the other a $60,000 a night hotel. Branson claims the model he is setting will help nearby Caribbean nations to switch to renewable power themselves. Perhaps it will, but it’s all a long way from the pledge to transform capitalism back in 2006.31 The Virgin boss now plays down his original commitment, no longer referring to it as a “pledge” but rather a “gesture.”

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