Announcing the Publication:
Carbon Reward Policy: An Economic Framework for Responding to Climate Damages & Systemic Risks
Official Launch at COP30 | Belém, Brazil | 10 Nov to 21 Nov, 2025
COP30 Announcement
The paper will be officially announced at COP30 side events, including presentations at the Australian Pavilion. Further event details will be shared as they are finalised.
For press inquiries and additional materials: info@globalcarbonreward.org
About this Policy Paper
Carbon Reward Policy: An Economic Framework for Responding to Climate Damages & Systemic Risks
By Dr. Delton B. Chen
This working paper presents, for the first time, the carbon reward policy with technical clarity and economic justifications. This policy has already inspired major discussion in climate economics and was popularised as the “carbon coin” in Kim Stanley Robinson’s acclaimed novel The Ministry for the Future. The working paper details how this mechanism could help achieve Paris Agreement targets, encourage systemic safety, and break through political gridlock.
This working paper is disseminated by:
Zenodo: https://doi.org/10.5281/zenodo.17294364
Bard College: https://gpsresources.bard.edu/working-paper-series
CAFIN, UCSC: https://cafin.ucsc.edu/research/working-papers/#2025
Cover of the Carbon Reward Policy Working Paper.
Dr. Chen’s research introduces the world’s first integrated framework for pricing carbon with both penalties and rewards, offering a solution for the climate finance gap and systemic risks that threaten global stability. The policy mobilises central banks to support verified climate mitigation via a sovereign-backed financial asset—the Carbon Reward (XCR)—unlike offsets or credits. The XCR mechanism aims to unlock trillions in private investment without imposing direct costs on governments, businesses, or taxpayers, fostering cooperative, debt-free decarbonisation.
Amazon, Brazil (Photo by Rodrigo Kugnharski, unsplash)
Substack: Join the Conversation
