The Global Carbon Reward is a system-changing policy for funding climate mitigation together with healthy ecosystems, vibrant communities, and reliable clean energy.
● Greater energy efficiency occurs when better/more goods and services can be produced with the same/fewer energy inputs.
● Carbon safety occurs when the carbon cycle is managed for stabilising the climate, and for supporting the regeneration of ecosystems and communities.
A new biophysical interpretation of civilisation — as a complex system — is espoused on this website. A key feature of this interpretation is that the world economy enables civilisation to evolve towards higher global energy efficiency. A second key feature of this interpretation is that civilisation currently lacks the economic structure for improving global carbon safety. Without a new economic structure that is optimised for carbon safety, it appears likely that civilisation will drive a planetary-level extinction event.
‘Carrot and Stick’ Carbon Pricing
The main focus of this website is a new monetary tool, called a carbon reward. The carbon reward will be a global ‘carrot’ for incentivising and funding climate mitigation and co-benefits.
The purpose of the carbon reward is to improve carbon safety using three key strategies:
● fund sufficient greenhouse gas removal, and on a global scale
● fund sufficient conventional climate mitigation, including strategic energy infrastructure
● fund regeneration of natural, social and built capital.
The economic policy for the carbon reward has four key features:
● a global price for mitigated carbon
● no direct costs
● no carbon offsetting and no carbon trading in the policy
● stakeholder representation.
The website provides a detailed introduction to the Global Carbon Reward policy, the new theory on carbon pricing, and a biophysical analysis for understanding the energy and carbon dynamics of the global economy.
Updated 8 August 2022
Could a ‘Carbon Coin’ Save the Planet?
Scott Patterson at the WSJ takes a look at why a carbon currency (aka “carbon coin”) could transform the economy. He talks with Australian civil engineer Delton Chen, to review the carbon currency that is portrayed in Kim Stanley Robinson’s climate-catastrophe novel.
KIM STANLEY ROBINSON
DELTON CHENWill fighting climate change require restructuring the global economy? Is a “carbon currency” the most intuitive or efficient solution to the climate crisis? Casey Pickett chats with Kim Stanley Robinson, Kate Raworth (Doughnut Economics), and Delton Chen.
In a real-world application of the Global Carbon Reward policy, the trading of the carbon currency will not involve any carbon offsetting and this is because the carbon currency does not convey the ownership of mitigated carbon. The carbon currency only acts as a store of value. Information on the pricing theory and the system of governance can be found via the links in the main menu.
Updated 5 January 2022
Ecocity World Summit, Barbican Centre, London
June 6th, 2023