Carbon quantitative easing (CQE) is an unconventional monetary policy that is featured in a proposed international climate policy, called a global carbon reward. A major goal of CQE is to finance the global carbon reward by managing the exchange rate of a proposed representative currency, called a carbon currency. The carbon currency will be an international unit of account that will represent the mass of carbon that is effectively mitigated and then rewarded under the policy. The carbon currency will function primarily as a store of value and not as a medium of exchange.
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| - Reducción cuantitativa del carbono (es)
- Carbon quantitative easing (en)
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| - Carbon quantitative easing (CQE) is an unconventional monetary policy that is featured in a proposed international climate policy, called a global carbon reward. A major goal of CQE is to finance the global carbon reward by managing the exchange rate of a proposed representative currency, called a carbon currency. The carbon currency will be an international unit of account that will represent the mass of carbon that is effectively mitigated and then rewarded under the policy. The carbon currency will function primarily as a store of value and not as a medium of exchange. (en)
- La redución cuantitativa del carbono (RCC) es una política monetaria no convencional que se presenta en una propuesta política internacional en cambio climatico llamada Recompensa Global del Carbono. El objetivo principal del RCC es financiar la propuesta RGC gestionando el tipo de cambio de la moneda representada propuesta por RGC. La moneda representativa será una unidad internacional de cuenta y depósito de valor, ya que representará la masa de carbono que se mitiga y as su vés recompensando sobre la nueva política. (es)
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| - Carbon quantitative easing (CQE) is an unconventional monetary policy that is featured in a proposed international climate policy, called a global carbon reward. A major goal of CQE is to finance the global carbon reward by managing the exchange rate of a proposed representative currency, called a carbon currency. The carbon currency will be an international unit of account that will represent the mass of carbon that is effectively mitigated and then rewarded under the policy. The carbon currency will function primarily as a store of value and not as a medium of exchange. CQE is designed to manage the exchange rate of the carbon currency by enacting an internationally agreed floor price for the currency. The floor price should rise predictably over many decades in order to deliver on the main goals of the 2015 Paris Agreement. CQE is the name given to the currency trading operations of central banks that have agreed to cooperate and coordinate their efforts in order to guarantee the floor price for the carbon currency. In addition to the currency trading, central banks should telegraph their intentions by advertising the future exchange rate of the carbon currency to market participants, thereby increasing private demand for the carbon currency in the foreign exchange market. With CQE, it is proposed that market participants will accept the new carbon currency as an investment-grade asset given that it will have relatively low financial risk, relatively high appreciation, and relatively high liquidity. (en)
- La redución cuantitativa del carbono (RCC) es una política monetaria no convencional que se presenta en una propuesta política internacional en cambio climatico llamada Recompensa Global del Carbono. El objetivo principal del RCC es financiar la propuesta RGC gestionando el tipo de cambio de la moneda representada propuesta por RGC. La moneda representativa será una unidad internacional de cuenta y depósito de valor, ya que representará la masa de carbono que se mitiga y as su vés recompensando sobre la nueva política. RCC está diseñado para administrar el tipo de cambio de la moneda representativa mediante el decreto de un precio base acordado internacionalmente para discha moneda, y su precio base deberá aumentar de forma previsible durante muchas décadas para cumplir los principales objetivos del Acuerdo de París de 2015. RCC es el nombre que se le da a las operaciones de compraventa de divisas de los bancos centrales que acordaron a cooperar y coordinar sus esfuerzos para gestionar el tipo de cambio de la moneda representativa. Además del intercambio de divisas, los bancos centrales deben comunicar sus intenciones anunciando el tipo de cambio futuro de la moneda representativa a los participantes del mercado, aumentando así la demanda privada de la moneda representativa en el mercado de divisas. Con el RCC, se propone que los participantes del mercado acepten la nueva moneda representativa como un activo de inversión dado que tendrá un riesgo financiero relativamente bajo, una apreciación relativamente alta y una liquidez relativamente alta. (es)
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