This proposal for a carbon-based international monetary system is one of the very few attempts to design a global governance system that would integrate the three dimension of sustainable development. Its Great Monetary Transformation would be an essential and necessary, though not sufficient component of the system that would contribute in the website’s stated purpose of a “ ‘Global Transition’ to an economy that maximizes wellbeing, operates within environmental limits and is capable of coping and adapting to global environmental change. We are working on this goal by building a global civil society and stakeholder movement to promote alternative models of development built on the principles of equity and sustainability.” The Tierra Solution is an alternative model of sustainable communities development in the global North and South that is anchored in the world’s international monetary system that functions as glue, a lubricant and linchpin of the global financial, economic and commercial systems. As such its transformation by basing it not on a gold or SDR (Special Drawing Rights) standard, but on a carbon standard of a specific tonnage of CO2e per person also transforms those systems. Thus, the more a nation decarbonizes its economy by the introduction of renewable energy sources, the stronger its economy and its currency. Maurice Strong believes that basing the international monetary system on a carbon standard is “innovative” that would hold promise for a post-Kyoto world. More information of this proposed carbon-based international monetary system can be found at, at where it was chosen as one of the ten thinkpieces by the Stakeholder Forum and, most importantly, in the 2012 book length publication by Cosimo Books entitled The Tierra Solution: Resolving the Climate Crisis through Monetary Transformation. Besides subscribing to the blog of the International Institute for Monetary Transformation, Googling fcvnyc will provide the reader with reactions to many articles in the world’s major and minor newspapers.
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