What is required is the rapid, far-reaching reorganisation of industry, energy, transport and mass consumption patterns, and the massive transfer of clean technology to the Third World. This is simply not possible under capitalism.
This is not because capitalists are neccessarily evil. It’s because capitalism by nature rewards short-term gain at the expense of long-term costs. And that’s precisely what has to change if we want to stop global warming from happening. We need to emphasize the long-term view and what’s best for all.