Global Carbon Reward

The Global Carbon Reward is a system-changing policy for funding climate mitigation together with healthy ecosystems, vibrant communities, and reliable clean energy. POLICY SUMMARY The Global Carbon Reward (GCR) is a new international climate policy that can mobilise the large-scale finance and broad cooperation that are essential for achieving the 1.5-2.0°C goal of the Paris Agreement. The GCR represents an economic system-change because it will offer a “carbon reward” to financially incentivise the reduction of greenhouse gas (GHG) emissions and the removal of GHGs from the atmosphere — at speed and scale. The reward is therefore a market price and a positive incentive that will be granted for mitigated carbon, however the reward will also be debt-free and scalable to bridge the investment gap of the Paris goal, which is estimated to be about: • US $3-6 trillion per year for cleaner energy and emissions reductions • US $100 trillion by 2100 for removing at least 640–950 GtCO2 from the atmosphere. The GCR offers a new political solution to the “free-rider” problem by not creating any direct costs for governments, businesses or citizens. Rather than creating more debt, the carbon reward will be financed through an investment vehicle (see Carbon Currency) that will be conveniently traded in open markets, and will be underwritten with an international central bank guarantee (see Carbon Exchange Authority). The GCR will not involve carbon offsetting, and it will prevent greenwashing and double-counting through service-level agreements, accreditation schemes, and transparency. Moreover, uniform standards and the predictable long-term carbon price will attract the required investing, scientific research, and project development at the necessary scale. CALL FOR SUPPORT The GCR team welcomes new members, collaborations, and partnerships. For further information, please email: info@GlobalCarbonReward.org