The soviets were constantly trying to grow their economy to stay competitive with the US and to demonstrate affluence. They switched out the old capitalist factory owners for the new class of government bureaucrats and party elite, who then carried on running the system for themselves. The state owned the means of production. They pretended that everyone owned the state, but we know this wasn't the case. The soviet union was a state capitalist system.

If we stopped seeking profit, our economies would stop growing and subsequently our emissions would as well. Our system is built to rely on infinite growth. No bank gives out a loan without expecting that money to grow with interest. Infinite growth is incompatible with the material reality of a finite planet. What we would need to do now, would involve purposeful economic degrowth. I have no hope that this will ever happen since it would require a lot of people to consume less and we are used to a lot of bread and circuses. Whatever you define as "economic activity" is secondary to the survival of the species.