"Carbon is going to be very close to a currency"

Speaking at a side session at COP27 in Sharm el-Sheikh, Michael Sheren, G20 co-chairman and former Bank of England senior advisor said that carbon was “moving very quickly into a system where it’s going to be close to a currency“. And that next on the agenda was the tokenization of nature and biodiversity.

Below a few other of his quotes

• "Basically being able to take a ton of absorbed or sequestered carbon and being able to create a forward-pricing curve, with financial service architecture, documentation,”

• "The southern part of the world has value far greater than large elements of the northern part."

• “And we start thinking about putting prices on water, on trees, on biodiversity, we find where does that sit?”

• Indonesia, Brazil, and Africa are “absolutely critical” because “we need their natural capital as a system-based world more than we need that 66 billion [gold coins] we’ve got sitting in the basement of the Bank of England.”

• “How do we start tokenizing?

• “How do we start building systems that actually create not only the value, but transfer that value around the world?”

These statements underline that it is now up to fintechs and blockchain startups to design and build the necessary infrastructure, processes and standardized classification systems for tokenizing carbon, nature and biodiversity.

Click on the image below to read more, article from The Sociable.

And here another intesting article from Forbes titled "Science Fiction Double Feature: Carbon And Tokens" about the same topic: a "Climate Currency", from the "Gold Standard" to a "Carbon Standard". Science or Fiction?