OUR PLAN

Our plan is to showcase a live demonstration of the carbon reward with the help of a central bank.

Dr. Delton Chen (Founder)

Our plan starts in 2021 with the establishment of new collaborations and partnerships.

Partnering

The first milestone is to partner with an internationally recognised NGO, to establish think tanks in various countries, and to find sponsors for the GCR initiative. The think tanks will be important for networking and attracting international support.

Demonstrations

The second milestone is to launch live demonstrations of the policy with one or more national governments. The live demonstrations may last a few years, and they will require at least one central bank to trade and manage a ‘carbon currency’. The central bank will need permission from their regulators to establish a temporary swap line for buying the carbon currency during the demonstrations. Finance for backing the carbon currency during the demonstrations will be sourced from the public and private sectors. The carbon currency may be created using distributed ledger technologies, such as blockchains. The live demonstrations will involve a number of low-carbon projects, possibly including renewable energy, carbon farming, re-wilding, reforestation, carbon capture and storage, industrial decarbonisation, direct air capture, etc. The low-carbon projects will enter into service level agreements with the sponsoring government(s) so that they can be awarded the carbon currency during the demonstrations.

Communication

The third milestone will be to communicate—mainly through documentaries, conferences and social media—how the GCR can be used to fund climate mitigation at the speed and scale that are needed to address the 2015 Paris Climate Agreement. The proposed strategy is to use the live demonstration to rally international voices, and to catalyse a GCR movement. Governments and private businesses that are the first supporters of the GCR may yield early adopter advantages and international prestige in future stages of the policy development and implementation.

Project Phases

Phase I. Discovery Phase (2014-2020)
Policy analysis, theory of change, and publications

Phase II. Development Phase (2021-2025)
1. Documentation of GCR’s organisational development plan and business plan
2. Partnerships with international non-governmental organisations (NGOs)
3. Discussions with stakeholders and policy makers through workshops and conferences
4. Implementation of demonstration projects with measurable outcomes for public dissemination
5. Formation of an international political movement to promote the GCR
6. Discussion and envisioning of an international treaty for the GCR

Phase III. Implementation Phase (After 2025)
Propose an international GCR treaty for global carbon emissions reductions and atmospheric removal