EXIT-Strategy climate currency ECO

Synopsis

Climate change is the greatest challenge our society faces. Still, our policymakers continue to put off effective action. We direly need a reliable, socially just concept as all encompassing as the problem itself to meet global warming and our planet's limits head on. The non-profit organization for sustainable economy SaveClimate.Earth proposes introducing a new climate currency, the ECO (Earth Carbon Obligation), that puts a separate emissions price tag on all products and services, finally providing consumers with a realistic, transparent climate price. Together, with our tradeable, personal emissions budget a free, ecological basic income for everyone, the ECO empowers us, the consumer, to pressure industries into transforming their manufacturing processes. Our altered consumer habits will bring about the necessary climate friendly alternative products. With this concept we can make a concerted effort to counteract both our climate predicament and social injustice, comprehensively and transnationally. This innovative concept allows each of us to become a decisive factor in stemming earth's rapidly changing climate and finally meet our climate targets. "The concept of the ECO climate currency is convincing and could initiate new economic thinking to tackle the climate crisis. The general idea of the Personal Carbon Budget is also a socio political progressive approach because it makes the individual a decisive actor in global affairs." (Prof. Dr. Dr. h.c. mult. Hans-Joachim Schellnhuber, former Director of the Potsdam Institute for Climate Impact Research (PIK) and long-standing member of the Intergovernmental Panel on Climate Change (IPCC)