NEW MARKET HYPOTHESISRISK COST OF CARBONCENTRAL BANK DIGITAL CURRENCY

NEW MARKET HYPOTHESIS

How to manage climate systemic risk

Read More

RISK COST OF CARBON

Pricing climate risk into the global financial system

Read More

CENTRAL BANK DIGITAL CURRENCY

The case for a positive carbon price

Read More

Global 4C

| Global 4C is hosted by the Center for Regenerative Community Solutions | Latest Website Change 30 January 2018 | We welcome your feedback |

 

The Global 4C Risk Mitigation Policy

The Global 4C project presents a new market hypothesis, and a powerful new public policy for climate mitigation, called the “Global 4C Risk Mitigation Policy” (Global 4C). The main objective of the policy is to manage climate systemic risk, and the operational goal is to influence the global rate of carbon mitigation with positive financial incentives. The acceptable levels of risk will be decided in an international forum, and these levels of risk will be defined as probabilities of exceeding certain temperature levels over a rolling 100-year time horizon (e.g. 33% chance of exceeding 2 degrees Celsius).

The operational objective of the policy is to offer ‘global carbon rewards’ as an ex-post payment for verified climate mitigation actions. The global reward will create a global carbon price, and the reward will be delivered as a parallel currency (with units of 100 kg of CO2 mitigated). The global carbon reward (the parallel currency) will be issued with private contracts that will impose service standards on market participants.

The parallel currency is given a generic name: “Complementary Currencies for Climate Change” (4C). The 4C currency is used to provide financial stimulus for climate mitigation work, and this stimulus is based on a currency exchange rate mechanism. The 4C currencies offer many advantages in terms of macro- and micro-scale management of the economy. We suggest that one of the 4C currencies be called the “Solar Dollar”, as a culturally appropriate name for an international currency. It is worth noting that 4C currencies do not have to be given legal tender status in national markets, because their main purpose is to enable trade with national currencies.

An important feature of the global carbon reward, is that the price of the reward/currency will mirror the Risk Cost of Carbon (RCC), which is the monetization of climate systemic risk. To better understand the the RCC and the concept of ‘climate systemic risk’, please read the sections on the Social Cost of Carbon (SCC) and the Risk Cost of Carbon (RCC), and the journal paper.

The Global 4C policy is designed such that the global carbon reward will be financed by central banks using monetary policy, and so there are no new direct taxes involved. For this reason the topic of green quantitative easing is relevant (see the video below). The policy will attract private wealth into the 4C currency mechanism through a managed long-term bull market in 4C trading.

Global 4C offers benefits to market actors who wish to be financially independent and seek self-determination, but who also want to contribute to the global ambition of avoiding dangerous climate change. The decision to participate in the Global 4C policy will be made locally (as a firm, community, or individual) because participation is voluntary.

This website is undergoing revisions to better explain the Global 4C policy, the RCC metric, and the concept of climate systemic risk. The underlying market hypothesis was published in 2017, and two new publications will be released in 2018 to further explain the hypothesis and the policy.

“The main proposal presents a detailed concept of the Solar dollar global currency for carbon pricing. It is well-developed and detailed, and contains concrete and actionable steps toward implementation.”

MIT Climate CoLab Judges (2015)

 

Green Quantitative Easing

Michael Metcalfe’s TED talk is not an endorsement of Global 4C, however it does show that the current proposal for Green Quantitative Easing (GQE) is gaining support amongst independent thinkers. Global 4C takes the idea of GQE and further explores its benefits for macro-economic management and long run sustainability.

 

Collaborations

Policy Host

Community Support

Digital Earth Vision

 

Policy Research

Creative Media

Policy Investors

 

Donations




 

Show more. Donations

 

Tax exempt donations can be made via PayPal or to Jonathan Cloud at the Centre for Regenerative Community Solutions and New Jersey PACE (501c3) a Non-Profit Organisation. We are happy to provide details and receipts for expenses to verified donors. Thank You.

Bitcoin donations to ‘Global 4C’ are very much appreciated.

1Hu1D4DSvxMrtkKJ7CDcwY9uenrbnqP9bs
Global 4C

Thank You.

Recent From the Blog

'How To Understand Economics and The Financial Markets

CFA Society Speech: How To Understand Economics and The Financial Markets In The Post-Bretton Woods World, Sao Paulo

August 2017

When Money ceased to be backed by Gold fifty years ago, the economy began to function in a fundamentally different way. Richard Duncan explains the policy and investment implications of this radically new economic environment.

The most important statements from Richard, that relate to the Global 4C policy, are seen after 1:12:00 into the presentation. Richard mentions that globalisation in combination with…

Read More...

Why central banks are experimenting with blockchain

Garrick Hileman, University of Cambridge.

 

 

Read More...

New Paper: Utility of the Blockchain for Climate Mitigation

 

Dr. Delton Chen, lead author of the Global 4C policy, writes…

Read More...

Show Buttons
Hide Buttons