The Green Marshall Plan - Bank of Canada's Green Money Supply

WHEREAS

A) The right to create money belongs to the citizens, but has been "contracted out" to irresponsible entities that have participated in creating a vast ecological debt.

B) Money creation that helped caused the ecological debt must be used to help repay that debt. If the money creation rights are more flexible and can be exploited to reverse ecological damage and restrict expansion of emissions, then we have a moral duty to use them for that immediately because we are at the tipping point of a runaway greenhouse effect.

C) With green infrastructure projects come new jobs, a larger tax base and savings from efficiency that will expand the economy. Green infrastructure paid by new money prevents resistance from those otherwise forced to pay for it.

D) The *risk-reward ratio" of reducing carbon vs inflation risk is in favour of reducing carbon. No claim that green money creation in and of itself guarantees inflation is credible. Countries engaged in large scale quantitative easing (QE) have not experienced problem inflation. Nor have countries like South Korea that focused its 2008-9 stimulus on energy efficiency measures.
Better energy efficiency, reduced fuel use and reduced pollution abatement must reduce long term costs. That "reduces" inflation, as inflation is measured against a basket of actually used goods. If we require less fuel, and get more for less, then actual value received for money is increased.
Created money creating genuine progress across whole societies reduces expenditures otherwise required for the same amount of genuine progress.

E) Ratified Green Party of Canada policy exists that Greens advocate the Bank of Canada return to a prominent role in creating money. (policy code G10-P24) That means, among other measures, creating *additional* money.

F) The ecological or natural capital of the biosphere, or indeed any ecosystem within it, is the root of all wealth.

G) Green MPs in England have asked the Bank of England to consider green QE. Mark Carney, the Bank's governor has stated a scenario where that may happen. Greens in at least Canada, the UK, Australia, New Zealand, the USA, France, Germany, Italy, other EU nations are urging similar measures. G7 and G20 and BRICS countries are also updating their policies to respond to V-20 and COP21 concerns. Canadian Greens should be among this chorus.

WHEREAS

A) The right to create money belongs to the citizens, but has been "contracted out" to irresponsible entities that have participated in creating a vast ecological debt.

B) Money creation that helped caused the ecological debt must be used to help repay that debt. If the money creation rights are more flexible and can be exploited to reverse ecological damage and restrict expansion of emissions, then we have a moral duty to use them for that immediately because we are at the tipping point of a runaway greenhouse effect.

C) With green infrastructure projects come new jobs, a larger tax base and savings from efficiency that will expand the economy. Green infrastructure paid by new money prevents resistance from those otherwise forced to pay for it.

D) The *risk-reward ratio" of reducing carbon vs inflation risk is in favour of reducing carbon. No claim that green money creation in and of itself guarantees inflation is credible. Countries engaged in large scale quantitative easing (QE) have not experienced problem inflation. Nor have countries like South Korea that focused its 2008-9 stimulus on energy efficiency measures.
Better energy efficiency, reduced fuel use and reduced pollution abatement must reduce long term costs. That "reduces" inflation, as inflation is measured against a basket of actually used goods. If we require less fuel, and get more for less, then actual value received for money is increased.
Created money creating genuine progress across whole societies reduces expenditures otherwise required for the same amount of genuine progress.

E) Ratified Green Party of Canada policy exists that Greens advocate the Bank of Canada return to a prominent role in creating money. (policy code G10-P24) That means, among other measures, creating *additional* money.

F) The ecological or natural capital of the biosphere, or indeed any ecosystem within it, is the root of all wealth.

G) Green MPs in England have asked the Bank of England to consider green QE. Mark Carney, the Bank's governor has stated a scenario where that may happen. Greens in at least Canada, the UK, Australia, New Zealand, the USA, France, Germany, Italy, other EU nations are urging similar measures. G7 and G20 and BRICS countries are also updating their policies to respond to V-20 and COP21 concerns. Canadian Greens should be among this chorus.