EBCU - Environmentally-backed Currency Unit

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EBCU = Environmentally-backed Currency Unit

URL = http://www.gaianeconomics.org/ebcu.htm


"In 1999 Richard Douthwaite came up with a cunning plan to solve this problem by inventing a new currency, called the EBCU or environment-backed currency unit (it is described briefly in his book The Ecology of Money). The new currency will be the only way to buy goods from other countries and is the also the only acceptable currency for buying the right to produce carbon dioxide. It will be shared equally on a per head basis to all the people of the world. This will ensure that pollution rights will be fairly shared and the richer countries will have to compensate the poorer ones, evening up the unjust distribution of resources we have today. It will also set an absolute limit on the output of carbon dioxide, finally getting a real handle on climate change." (http://www.gaianeconomics.org/ebcu.htm)

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See our entries on Monetary Reform and Monetary Scarcity