Climate currency ECO (Earth Carbon Obligation)

Book published by Oekom
Audiobooks in english and german available on all streaming platforms and in online bookstores
free e-book

switch to german

visit our blog

CO2-currency "ECO" as personal emissions budget

the socially just alternative to CO2 tax and EU-ETS

Imagine

every product in the future would have an additional price tag that indicates how climate-friendly it was produced.

Imagine

that you pay this price with your personal emissions budget, which is due to everyone in the same amount.

Imagine

that everyone receives the CO2 currency ECO as a basic ecological income and that this quota can be traded. can be traded.

find out more about the ECO

With the ECO, it is possible to meet emission targets in a reliable, social and fair way.

The ECO uses your power as a consumer and thus puts the control potential for climate protection in the hands of all citizens.

The ECO in brief

Concept trailer

Scientists supporting the ECO model

»This model defines the necessary ecological guard rails within which every citizen can autonomously decide on his consumption. It is an instrument of freedom within clearly defined limits for all. The effect of this alternative climate concept is that each of us is not only part of the problem, but also becomes a crucial part of the solution.

Prof. Dr. Ernst Ulrich von Weizsäcker

environmental scientist, politician,

honorary president of the Club of Rome

and the World Future Council

»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

Further supporters

Masterplan for a system change

global resource currency as CO2 equivalent

Climate change is one of the greatest challenges we currently face as a society. But the measures taken by policymakers so far are not enough. Emissions are rising year by year and have never been higher than they are today. We believe that the gigantic problems facing us are systemic, and that this task must therefore be approached systemically - namely, thinking big. This is the only way to achieve the necessary "giant leap" through which we might still be able to avert the worst. That is why we have developed a climate concept that could initially be introduced within the EU and as many willing states as possible. Its border adjustments could cause many other countries to join such a resource currency union. Cap, Personalize and Trade is a reliable and equitable model to adequately address global warming and the limits of our planet - on the same scale as the problem itself.

Climate Justice

Taking responsibility for future generations

We all consume. The associated consumption of fossil fuels is increasingly exceeding the planet's regeneration limits. However, our consumption can only be reduced quantitatively to a limited and very limited extent. Savings potentials and the possibilities to reduce CO2 emissions through voluntary renunciation are limited and by far not sufficient. Certainly, most people recognize the dangers of climate change and also the need for action. But at the latest when this leads to personal restrictions, acceptance and willingness to participate is reduced. At the same time, it is especially important now to take responsibility for future generations. However, the issue of climate change should not be about guilt. Guilt in the sense of "... your consumption is worse than my consumption ...". No one should feel attacked. Because we all live within this system design that made the current state of our environment possible. environment.

The climate account

Personal tradable emission budgets for all citizens

The solution can therefore only be to make the manufacturing processes for our consumption generally greener and more climate-friendly, instead of relying on voluntary individual renunciation or small-scale savings measures. This is already technically possible. So far, however, it has failed due to economic reasons, because fossil fuels are simply too cheap. The consequential costs of their use, such as coping with the effects of climate change, have not yet been priced in - a serious system error at the expense of our children. However, making consumption more expensive, such as through the new CO2 pricing, does not automatically mean significantly lower emissions as a consequence. That's why we need a billing model that works more reliably and fairly while still respecting the planet's limits. The ECO is a tradable, personal emissions budget that all citizens receive as a basic ecological income. Through the ECO, all things in daily life receive a separate emissions price tag, so that our consumption receives its realistic and transparent climate price. This solution for the whole society causes that through the limited ECO budget, our demand will automatically change towards greener products. Therefore, through sensible limiting and rationing, the necessary decarbonization pressure on the industry will be exerted by the consumers themselves.

Socially just transformation

Application of the polluter-pays principle

The responsibility for climate protection is thus returned to EVERY individual citizen, fairly and according to the polluter pays principle. And this with a maximum of personal freedom of choice and transparency. Because ALL costs of our ecological footprint become visible through the ECO. People can now assign a price to the CO2 equivalent of their consumption, in addition to the economic value. This corresponds exactly to the consumed carbon - resources along the complete production process. There is no mixing of monetary price and resource price. Justice is a strong basic need of almost every human being. And we all have an equal right to emit a certain amount of CO2. Paying out identical personal emission quotas fulfills this need and enables consumption that takes into account the finite nature of the atmosphere and guarantees compliance with scientifically defined emission limits. As a gamechanger in climate policy, this concept could bring about transnational climate justice at all social levels, contributing to a socio-ecological transformation of our society and economy.