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Please find below the judging results for your proposal.

Finalist Evaluation

Judges'' ratings


Novelty:
Feasibility:
Impact:
Presentation:

Judges'' comments


- Interesting concept for a new financial instrument based on physical quantities of GHG emissions avoided. The long-term success of the idea is questionable, but the first steps proposed here are a good start.

- A well thought out proposal with clear objectives. Would be a valuable addition to the climate/economic debate.

- Very interesting information about Global 4C, which would act as a new source for global finance. The part that is not addressed is the estimation of climate change. What type of climate reduction estimation would be maintained and who would provide it? Who would be funded and how?

Semi-Finalist Evaluation

Judges'' ratings


Novelty:
Feasibility:
Impact:
Presentation:

Judges'' comments


Novelty: 5/5 Interesting concept for a new financial instrument based on physical quantities of GHG emissions avoided.

Workability: 3/5 Long-term success of the idea is questionable, but the first steps proposed here are a good start. The timeline is quite realistic.

Effectiveness: 4/5 IF successful, this could have significant impact on future GHG emission rates.

Thoroughness: 4/5 Good proposal.

Presentation: 4/5 Well done.

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This proposal of a new financing mechanism for carbon reductions is basically a good idea, and is worth pursuing, at least at a lower level of funding - 100 to 200K would be a way to start thinking about this and get enough written down to get feedback from economists. Nordhaus says "if you want to make something scarce, make it expensive" and this kind of financing mechanism could be one way to do that. In the end there will be many different mechanisms proposed, and some poltical/economic solution will emerge. But it would be interesting to have these ideas in the discussion.

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Christina Starr

May 8, 2014
03:36

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Thank you for this proposal! Looking forward to hearing more specifics about your idea for this new finance source, its governance and institutional structure, how it would differ from other funding streams, and what specific sequestration activities it would support. Best, Christina

Paulo Borges De Brito

May 15, 2014
06:15

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It's very interesting. I would like to hear more about the actual global finance model. Paulo

Jason Tessler

Jun 17, 2014
06:12

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You say "Protection of Biodiversity" and I say I like it already!

Climate Colab

Aug 6, 2014
12:30

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Novelty: 5/5 Interesting concept for a new financial instrument based on physical quantities of GHG emissions avoided. Workability: 3/5 Long-term success of the idea is questionable, but the first steps proposed here are a good start. The timeline is quite realistic. Effectiveness: 4/5 IF successful, this could have significant impact on future GHG emission rates. Thoroughness: 4/5 Good proposal. Presentation: 4/5 Well done. --- This proposal of a new financing mechanism for carbon reductions is basically a good idea, and is worth pursuing, at least at a lower level of funding - 100 to 200K would be a way to start thinking about this and get enough written down to get feedback from economists. Nordhaus says "if you want to make something scarce, make it expensive" and this kind of financing mechanism could be one way to do that. In the end there will be many different mechanisms proposed, and some poltical/economic solution will emerge. But it would be interesting to have these ideas in the discussion.

Delton Chen

Aug 8, 2014
04:14

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creator
For the general public and the Judges, the Global 4C proposal is further explained in two other proposals in the MIT Climate CoLab competition: (1) Global plan: https://www.climatecolab.org/web/guest/plans/-/plans/contestId/1300701/phaseId/1301101/planId/1307204 (2) U.S. Congress: https://www.climatecolab.org/web/guest/plans/-/plans/contestId/1300404/planId/4702 (3) Global 4C recommends a structural change to the global economy, and background to this issue can be found in this excellent book: http://www.triarchypress.net/money-and-sustainability.html http://www.clubofrome.org/cms/wp-content/uploads/2012/05/Money-and-Sustainability-the-missing-link-Executive-Summary.pdf Sincerely, Delton

Victor Blanco

Aug 26, 2014
03:42

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Great project. I wish you the best!. As I supported your proposal I would appreciate you support my proposal in Waste Management Contest, named 'REACC - Recycled Debris for Adaptation to Climate Change'. Regards!

Victor Blanco

Aug 26, 2014
03:03

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Great project. I wish you the best!. As I supported your proposal I would appreciate you support my proposal in Waste Management Contest, named 'REACC - Recycled Debris for Adaptation to Climate Change'. Regards!

Climate Colab

Sep 3, 2014
12:25

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- Interesting concept for a new financial instrument based on physical quantities of GHG emissions avoided. The long-term success of the idea is questionable, but the first steps proposed here are a good start. - A well thought out proposal with clear objectives. Would be a valuable addition to the climate/economic debate. - Very interesting information about Global 4C, which would act as a new source for global finance. The part that is not addressed is the estimation of climate change. What type of climate reduction estimation would be maintained and who would provide it? Who would be funded and how?

Osero Shadrack Tengeya

Sep 17, 2014
03:06

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Hi crcsolutions.org and your friends, kindly consider voting for my proposal shown on this link. https://www.climatecolab.org/web/guest/plans/-/plans/contestId/1300206/planId/1002 Thanks.

Delton Chen

Sep 22, 2014
09:02

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Thank you to the organisers of the MIT CoLab, and to all those people who have supported the Global 4C proposal so far, thank you! This Global 4C plan presented under "Land Use: Agriculture, Livestock and Forestry" requires financing according to the macro-economic system that we described in the "Global Plan" category. Unfortunately, the judges of the "Global PLan" did not allow our Global 4C proposal to enter the finals for the Global Plan. This set back means that the current proposal (under this category) is missing it's parent proposal. Or, in other words, it is not economically supported within the judging system of the MIT competition. This puts a "spanner in the works" for our proposals. If you, the reader, are interested in the Global 4C proposal, please have a close look at the last two comments for Global 4C under the Global Plan category. There I explained that the judges comments are inconsistent with the proposal we presented. The Global 4C proposal is different to tradable credit systems, 'cap and trade' and all similar systems that put a price on pollution for the polluter. Global 4C does not put any limits on pollution. This is Global 4C's strategic political advantage. Global 4C is actually a subsidy and reward system for mitigation, and as such it does not enable trading of pollution. It aims to provide financing for least cost mitigation and sequestration at the global scale. What is exciting about this concept, is that people all over the world could monitor the exchange rate of this new currency (called 4C) and make decisions in real-time about undertaking bio-sequestration. The 4C would be issued to people everywhere: all across Africa, South America and South East Asia and everywhere that de-forestation is continuing at an alarming rate. The Global 4C proposal would make a paradigm shift in our collective consciousness because everybody would see and understand the value of the financial subsidies and rewards for carbon sequestration. The assessment of large-scale sequestration by reforestation and land-use changes could be undertaken using satellite imagery and statistics (as I have described). Having worked with GIS data myself, I have no doubts that this is possible. Moreover, scientists have begun developing mathematics that can quantify avoided deforestation based on land use changes - and this is very exciting. The master plan for land-use is to instigate a social transformation that can spearhead the carbon transition by winning over local communities, governments and police. The system would also allow people who are logging and growing mono-crops (e.g. palm oil) to divest in alternative business models and culturally adapt. Global 4C will synergy with carbon taxes that should also be introduced as quickly as the politics allows. Global 4C would be applied globally, but the key message is that the reward and subsidy payments would create localised income without the financial middle-men. This is critically important for communities in developing countries, because many of these people are being adversely effected by transnational corporations that are internationalising commodity prices. By providing 4C currency (foreign income) directly to communities, these communities will be more self sufficient. They can also learn how to trade in 4C currency and invest their money in new projects. Confusion may arise because the Global 4C subsidies and rewards are issued as a new currency. After this new money is issued, it is basically just money for use in general trade, like any other money. Important, is that currencies have low transaction costs and can be quickly set-up in Forex markets. A globalised price signal is absolutely essential if we are to strongly mitigate climate change. Mobile phones and internet access can replace traditional banks for customers. The financing of Global 4C is explained in the global plan. Have a look if you are interested in the concept. The monetary approach that we have identified opens up new financing options that are unorthodox. I expect that bankers and traders could design very effective monetary policies to appreciate the 4C currency as required for mitigation over the next 50-100 years. With some irony, it would be the bankers and currency traders who would save us from climate disaster. I am personally convinced that Global 4C is the missing link in the climate change conundrum. Others may disagree, however it is evident that this proposal and the innovations that it recommends have not been professionally assessed nor have they been tested in pilot studies. We had hoped that by entering Global 4C into the MIT CoLab, we would earn some publicity. Global 4C shows a glimmer of potential because it directly connects the economy, politics, and society with the physical world. The standard economic perspective is that subsidies are inefficient. But Global 4C is not a standard policy. It is very innovative and multi-disciplinary. Moreover, it uses the most powerful economic tool of all the tools, and that is 'money'. Money is the social agreement that everybody understands. Global 4C proposes new debt-free money. Global 4C also recommends the Internet, mobile phones and social networks as the knowledge and communication system. My view is that we need to look at the 'whole system', and not just the economic system. Global 4C is integral with the whole system, and it may allow us to discover hidden opportunities to create positive feedbacks that can couple human 'self interest' with the much needed mitigation of GHG emissions. We desperately need to identify these positive feedbacks and make maximal use of them. Moreover, we also need to develop policies that leaders in government and banking can promote and employ without exposing themselves to harsh political opposition and related risks. It is this strategic thinking that makes Global 4C special in my view. We should have all noticed that modern society has lost its balance. Society is currently operating in an overly masculine framework (i.e. penalties and base logic) and we need to balance this with the feminine (i.e. rewards and intuitive problem solving). Carbon Taxes = Yin, and Rewards for Carbon = Yang. Only such a balance can correct the disfunction. All the best, Delton Chen

Anne-marie Soulsby

Sep 23, 2014
04:51

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Hi crcsolutions.org, Please consider voting for my proposal, https://www.climatecolab.org/web/guest/plans/-/plans/contestId/1300801/planId/1309001 Good luck with your entry! Asante/Thank-you @conserveaction

Victor Blanco

Oct 4, 2014
11:26

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Congratulations!!! Please check the "Discusion Section" in the "Community" label... Proposal of activity during the Conference Session of 2014 Winners... https://www.climatecolab.org/web/guest/discussion#discussion%3DpageType%3ATHREAD%2CthreadId%3A1337218

Prakasa Rao

Oct 6, 2014
02:21

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Global 4C is a great concept. We reward improvement of our climate; not necessarily restrict to punish those who contribute to environmental degradation! I will be happy to be a part of such an effort; especially on land use and plant/crop carbon sequestration efforts.It is possible to sequester CO2 while providing livelihoods to farmers in developing world; we can combine environment, economics and equity. I wish success to this concept. E.V.S.Prakasa Rao Ph.D, FNAAS, FISA, FISS

Delton Chen

Oct 27, 2014
11:44

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Here is a small (but still important) correction to my post on 22 Sept 2014: Carbon Taxes = Yang (masculine), and Rewards for Carbon = Yin (feminine) Sorry about that ;-) Cheers, Delton

Greenbiz Projects

Aug 30, 2015
03:07

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Very interesting project and actually ties perfectly with ours in India - ReForest. We have even trademarked a carbon standard for community led reforestation projects however small they may be. If your methodology is worked out we can perhaps synergize to impact at least 100,000 acres In India to start with - which we have already on the table. Talk to us. And of course do comment on our initiative and approve it if you like what you see!