Capitalism has been and will be an essential ingredient to solve the problem and switch to other sources of energy. The issue is that the costs to the global environment are not borne by the polluters. Put a price tag on pollution and the market will do the best it can.

Well in the end capitalism determines everyone's personal incomes. As long as the rich keep getting relatively richer and the population bigger the economy has to grow in order to leave at least near as much income for people in general as before.