According to the Chinese Marxist expert, who used to believe in free market, the capitalist system is under pressure of permanent accumulation thus it is not compatible with the sustainability of the ecologic system of the globe. Climate stabilising measures would increase the costs of capitalists, would reduce the growth of capital accumulation thus very few countries are willing to undertake serious emission cuts and there is no hegemonic power that would keep the system in check. Substantial social changes are needed.
See Minqi Li:Capitalism, Climate Change and the Transition to Sustainability: Alternative Scenarios for the US, China and the World. Development and Change Volume 40, Issue 6, pages 1039-1061, November 2009