Gates, and basically all economists, argument is that without correctly pricing externalities, capitalism (creative or otherwise) not only doesn't help, it actively makes things worse, as people can make fortunes by digging up and burning the fossil fuels that will wreck the global climate.

Those incentives need to be realigned, and almost certainly will at some point, though probably much later than someone who believes in the power of market forces would like. The initial work will mostly be done via central planning and government regulation.

It's even possible, like the VW scandal has reverberations in consumer confidence in their brand, that global warming has the potential to discredit capitalism in the eyes of the public, if a carbon tax doesn't get introduced soon enough to see capitalism as part of the solution and not just the problem.