Key References

Policy Name

The key references (papers and book chapters) refer to the “Global 4C” policy and “Complementary Currencies for Climate Change (4C)”. To improve the communication of the policy, the policy name has changed from “Global 4C” to “Global Carbon Reward”. Also, the name of the proposed currency has changed from “Complementary Currencies for Climate Change (4C)” to “Carbon Currency”. The Carbon Currency has a unit of account of 1 tonne of CO2e mitigated for a 100-year duration. The 4C currency has a unit of account of 100 kg of CO2e mitigated for a 100-year duration. These changes have been adopted to simplify the policy discussion for economists, policy makers and concerned citizens.

1Chen, D.B., van der Beek, J. and Cloud, J., 2017. Climate mitigation policy as a system solution: addressing the risk cost of carbon. Journal of Sustainable Finance & Investment, 7 (3): 1-42.
2Chen, D. B. (2018). Central Banks and Blockchains: The Case for Managing Climate Risk with a Positive Carbon Price. In: Transforming climate finance and green investment with blockchains. Elsevier. A. Marke, Ed., Chapter 15.
3Chen D.B., van der Beek J., Cloud J. (2019) Hypothesis for a Risk Cost of Carbon: Revising the Externalities and Ethics of Climate Change. In: Doukas H., Flamos A., Lieu J. (eds) Understanding Risks and Uncertainties in Energy and Climate Policy. Springer, Cham
4Chen, D. B. (2018). Utility of the Blockchain for Climate Mitigation. The Journal of British Blockchain Association, 1 (1): 1-9.
5Zappalà, G. (2018). Central Banks’ role in Responding to Climate Change: Monetary Policy and Macroprudential Regulation. Thesis. Universita’ degli studi di Padova Dipartimento di Scienze Economiche.
6Chen, D.B., Zappalà, G., and van der Beek, J. (2018, unpublished). Carbon Quantitative Easing: Scalable Climate Finance for Managing Systemic Risk. Scaling up Green Finance: The Role of Central Banks. Berlin, Germany, 8 – 9 November, 2018.
NOTE: This paper was submitted but not accepted for presentation. The conference was replaced with a closed meeting, and the public was not invited.
7Chen, D. B. (2019, unpublished). Climate Finance. Summary disseminated at the First Annual Global Climate Restoration Forum, United Nations Headquarters, New York. 17 Sept. 2019.
8Lutz, S. (2022, unpublished). Comparing the Relative Benefits of Carbon Taxes and Carbon Rewards in Fossil Fuel Exporting Regions. School of Environmental Science and Engineering, Peking University, China, January 2022.
9Chen, D. B. (2022, Draft). Global Carbon Reward: 2022 Policy Working Paper. Version Sept. 25, 2022. GCR Project, Inquiring Systems Inc.

Please note that the draft working paper is under review, and it will be released in Q4 2022, or Q1 2023.