Correct. Capitalism is one of many different systems that degraded the environment. By contrast nothing else has really advanced humans.
Arguably capitalism is the first system to see environmental problems and try to solve them.
Arguably? Capitalism will crash and burn before it will solve any env problem. May I remind you that without NASA (not a private entity) and without gov regulations (not industry self-regulation) we wouldn't have an ozone layer today.
Modern capitalism was invented in 2020 with the abolition of bank reserve requirements. The previous incarnation was invented in 2008 with the start of QE Infinity. There were probably a few between that and the one that started in 1971 with the abolition of the gold standard, and so on.