The Feasibility Study of Issuing Carbon Coins from the Perspective of Currency Attributes

DOI

10.2991/aebmr.k.220307.001How to use a DOI?

Keywords

Climate Change; Carbon Finance; Carbon Currency; Monetary Properties

Abstract

The increasing greenhouse gas emissions have made environmental problems increasingly acute, and a low-carbon economy has become an inevitable requirement for social development. In recent years, some scholars have proposed the concept and role of carbon currencies from the perspective of international currencies, arguing that carbon currencies are a global institutional arrangement to promote green economic development.

This article discusses the possibility of issuing carbon currencies in the future by analyzing the attributes of carbon currencies. Carbon currencies have the characteristics of generic equivalents and are superior to a single basket of commodity currencies and a single credit currency anchor. In conclusion, an effective carbon currency operating mechanism should include an issuance mechanism, a circulation mechanism, an ecological compensation mechanism and a regulation mechanism. It also requires a reasonably designed framework, including a scientific basis for currency issuance, a complete circulation domain, a sound and effective multi-level market and supporting institutions to assist its operation.

This essay mainly adopts the research methods of literature research method and comprehensive theoretical analysis. Through reading and studying a large amount of relevant literature at home and abroad, we aim to grasp the research results, the current situation and the shortcomings of research in the relevant fields at home and abroad, and strive to make a certain degree of innovation on the basis of the excellent research results of previous generations. This article specifically combines the traditional theory of monetary functions, the theory of monetary evolution, the theory of supplementary money and other methods and perspectives in its research to analyze issues such as the attributes and functions of carbon money in a comprehensive manner. In summary, carbon currencies have the basic conditions to become international currencies, but further research is needed on how and where they can further become international currencies. I believe that the establishment of an international monetary system with the carbon standard as its core should be distinguished from the original gold standard, and that imitating the gold standard system or becoming a super-sovereign currency lacks a certain realistic basis.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Feiyue Xu
PY  - 2022
DA  - 2022/03/26
TI  - The Feasibility Study of Issuing Carbon Coins from the Perspective of Currency Attributes
BT  - Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022)
PB  - Atlantis Press
SP  - 1
EP  - 4
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220307.001
DO  - 10.2991/aebmr.k.220307.001
ID  - Xu2022
ER  -