GND reinforces the system by dealing with energy in isolation- we should fund the GND by nationalizing banks and major corporations- expropriation stops the system from coopting our demands

(Helena, LSE Marxists, https://socialist.net/the-green-new-deal-system-change-or-saving-the-system/ , 5-17)

On a socialist basis, however, we could achieve the GND demands and much more. Clearly the resources for such ambitious environmental transformation do exist. The fact is that there is already an incredible amount of wealth in existence. For example, it is estimated that over £700 billion – the equivalent of one third of UK GDP – lies uninvested in the vaults of the UK’s big banks. In the US, the figure stands closer to $2 trillion ($2000 billion) – and rising. The tech giant Apple, alone, sits on a cash mountain of over $200 billion. This money sits idly in the bank accounts of big business because the bankers and bosses cannot find a profitable avenue for investment in the context of a saturated world market and a crisis-ridden global economy. Instead of trying to entice the capitalists to invest against their interests, we need to take this money out of their hands. The only way to do this is through the nationalisation of the commanding heights of the economy – the key economic levers of the banks and major monopolies. Momentum has called for banks to divest from fossil fuels, and shadow chancellor John McDonnell has proposed to delist companies from the London Stock Exchange that are not doing enough on climate change. But these kinds of proposals are insufficient. In order to guarantee that the necessary steps are taken to stop climate change, the banks and big corporations must be expropriated and put under democratic control. Only in this way can we avoid the blackmail and threats of the capitalist class, and begin to plan the economy on the basis of need. The demands put forward by Jeremy Corbyn and the Labour GND campaign for public ownership are correct. But this cannot be isolated simply to the transport and energy sectors. Instead of partial nationalisations – which leave the profit system intact (and prop it up) – what is required is a massive overhaul of all sectors of the economy, as part of a socialist plan, in order to rationalise production and utilise society’s resources in a harmonious and sustainable way. The call for expropriation and a socialist plan of production go well beyond the scope of the Green New Deal as is currently being proposed in either the US or the UK. However, every day it is becoming clearer and clearer that capitalism cannot provide a way out of this environmental or economic crisis – and so the need for bold socialist change becomes clearer also.