Dear Colleague,

The global gathering in Santa Marta (24-29 April 2026) represents one of the most dynamic coalitions for climate action in the world: scientists, economists, policymakers, central bankers, and civil society leaders who share a commitment to a just, orderly, and equitable transition away from fossil fuels.

We write to bring to your attention a novel climate policy — the Carbon Reward — that is directly relevant to the challenges at the heart of the Santa Marta conferences: how to close the multi-trillion-dollar climate finance gap, how to make the transition financially viable for all countries, and how to give central banks and financial regulators a coherent and actionable mandate for supporting the transition.

The Carbon Reward policy works differently from conventional approaches. Rather than penalising emitters, it rewards verified climate mitigation through a new financial instrument — the XCR financial asset — issued as conditional grants and supported by a guaranteed price floor defended by a voluntary alliance of central banks who would deploy a novel, strategic form of quantitative easing. The policy is designed to mobilise private and public finance of approximately USD $6 trillion per year: sufficient to finance a rapid and orderly transition away from fossil fuels while simultaneously coordinating the scale-up of clean energy and carbon dioxide removal. Crucially, the Carbon Reward complements — rather than replaces — existing carbon pricing regimes, subsidies, and regulations.

Those attending the Central Banks Workstream Roundtable will note that the sessions directly address questions of monetary policy, prudential frameworks, financial stability, and central bank mandates in the context of the fossil fuel transition. The Carbon Reward offers a specific, theoretically grounded response to these questions: a new social principle — the Preventive Insurance Principle — that provides the ethical and economic basis for governments to mandate their central banks to support climate mitigation through financial hedging. We believe this framework deserves serious evaluation alongside the other innovative proposals being discussed in Santa Marta.

The policy and its expanded economic framework were developed over ten years and published as an open-access working paper in October 2025. It has been reviewed by a growing international expert network in climate finance, environmental economics, and international policy, and identified as a genuinely novel contribution with the potential to resolve structural failures in the global economy.

We are now in the Foundation Stage of a four-year Carbon Reward Assessment & Engagement Program. We are building the interdisciplinary network of partners, advisors, and supporters needed to advance the policy from concept to credible international proposal — and we believe many participants in Santa Marta are precisely the people and institutions this program needs.

We warmly invite you to engage with the initiative in whatever way suits your capacity and interests:

1. Explore our website to learn about the initiative, the policy, and its economic framework.
2. Read the open-access policy working paper, which sets out the full theoretical and practical framework for the Carbon Reward: https://globalcarbonreward.org/policy-working-paper/
3. Request an online meeting with our team. We are happy to answer questions and discuss how the Carbon Reward relates to your own work.
4. Request an online presentation for your organisation, institution, or network, tailored to your audience’s background and interests.
5. Preview our forthcoming concept paper directed specifically at central banks, financial regulators, and the insurance sector — exploring the Carbon Reward’s implications for systemic climate risk and the case for a new financial mandate based on the Preventive Insurance Principle. Please contact us if you would like to review this paper ahead of publication or help promote it within relevant institutional networks.
6. Consider applying to become a GCR Associate — a flexible, low-commitment form of collaboration open to individuals and organisations of any kind. Associates engage with and promote the policy, share it within their networks, and support our efforts to attract funding and partnerships. Association may be declared publicly or held privately, as you prefer.
7. Consider applying to join our Working Group — a more active, interdisciplinary group undertaking the preliminary feasibility assessment and scoping report for the program during the Foundation Stage. Members contribute on a part-time voluntary basis, with time commitments agreed individually.

There are no legal or commercial obligations attached to any form of involvement. All collaboration is governed by a simple Memorandum of Understanding (MOU) that can be reviewed or concluded at any time.

The window for transformative climate action is narrowing. The Carbon Reward Assessment & Engagement Program must advance while the UNFCCC process remains open to new ideas and financial instruments. We believe the conversations taking place in Santa Marta in April — on finance, on central bank mandates, on the just transition — are precisely the context in which the Carbon Reward deserves to be heard.

We hope you will find the time to explore the initiative, and we look forward to connecting with you.

Yours sincerely,

Delton Chen, Ph.D.
Executive Director & Founder
Global Carbon Reward
Inquiring Systems, Inc.