Global 4C Wins MIT 2015 Global Plan

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Global 4C is a Winning Global Climate Action Plan by Judges Choice

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We are proud to announce that Global 4C was selected by the judges in the 2015 MIT Climate CoLab competition for a global plan. The MIT CoLab is a collaborative project for collective intelligence (crowd-sourcing) to address global climate change. Our winning proposal for a global plan outlines the Global 4C policy in terms of the main economic instrument – the Solar Dollar. In our proposal we explain that “The Solar Dollar is a currency for the people: to be issued as a reward for climate mitigation and financed by Green Quantitative Easing.”  We also provide links to a powerpoint presentation that discusses new theory for civilisation, money, and markets, and there is a link to an online radio interview.

Our policy proposal is for a broad, coherent vision for a world action to address climate change. The policy is also broadly in agreement with other views on climate mitigation, for example the following statement made on Greenbiz (Fedor Petrenko, 2015):

“We ought to have mechanisms in place that subsidize production directly to level the playing field,” said Francis O’Sullivan, director of research and analysis at MIT’s Energy Initiative.

“…the MIT study emphasized that financial innovation continues to unlock new sources of cheap capital for solar.”

MIT idea: Reward solar generation instead of installation

Our Global 4C proposal would unlock virtually unlimited finance for clean renewable energy worldwide, however Global 4C is a better system than subsidising solar energy, per se, and this is because the Solar Dollar unit of account is based on the amount of greenhouse gases mitigated from energy markets and the economy in general. If we were to pay global subsidies for solar energy, we would not know what the direct benefits are for global greenhouse emissions and the climate. A Solar Dollar that is coupled directly to the actual mitigation rate is more trustworthy and will be more effective over the long term.

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On behalf of the Center of Regenerative Community Solutions, a big thank you to the people who helped guide the development of Global 4C policy.
Dr. Delton Chen (Project Coordinator & Lead Author).