Key References
Name Change for the Policy & Market Tool
Prior to 2021, the policy was called the “Global 4C” and the tool was called “Complementary Currencies for Climate Change (4C)”. The 4C currency has a unit of account of 100 kg of CO2e mitigated for a 100-year duration.
The policy is now called “Global Carbon Reward”, and tool is now called “Carbon Currency”. The Carbon Currency has a unit of account of 1 tonne of CO2e strategically mitigated for a duration of 100 years or longer. These name changes were adopted in a major revision of the policy.
Chen, 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.
Chen, 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.
Chen 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
Chen, D. B. (2018). Utility of the Blockchain for Climate Mitigation. The Journal of British Blockchain Association, 1 (1): 1-9.
Zappalà, 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.
Chen, D.B., Zappalà, G., and van der Beek, J. (2018, unpublished).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.
NOTE: This paper was submitted but not accepted for presentation. The conference was replaced with a closed meeting, and the public was not invited.
Chen, D. B. (2019, unpublished). Climate Finance. Summary disseminated at the First Annual Global Climate Restoration Forum, United Nations Headquarters, New York. 17 Sept. 2019.
Lutz, S. (2022, unpublished).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.
ABAC APEC Business Advisory Council & Sustainable Finance Development Network (SFDN), (2022). Effective Carbon Emissions Trading & Markets-Pricing Mechanisms in the Asia-Pacific Region.
Chen, D. B. (2023, Draft). Global Carbon Reward: 2023 Policy Working Paper. GCR Project, Inquiring Systems Inc.
Please note that the draft working paper is under review, and it will be released in Q1-Q2 2023.