Power and Powerlessness in the Green Transformation
How Venture Capital Structures the Technological Space of Possibility
DOI:
https://doi.org/10.32387/prokla.v56i222.2220Keywords:
Green Transition, Investment Chains, Start-ups, Technology, Venture CapitalAbstract
In this article, I examine how venture capital shapes the green transition. By analyzing power relations in investment chains, I show how venture capital shapes the technological conditions of possibility for social development. Investors primarily promote scalable, data-driven business models and only consider sustainability goals such as decarbonization if they are compatible with revenue growth. Public investors exert influence through conditionalities, but encounter structural limitations in doing so. In an outlook, I highlight transparency, democratic co-determination, and institutional reforms as key levers for a socio-ecological investment policy.
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