Global Marshall Plan

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Source: Earth in the Balance, page 297-301

Global Marshall Plan: Five strategic goals "In my view, five strategic goals must direct and inform our efforts to save the global environment":

  • stabilizing of world population
  • the rapid development of environmentally appropriate technologies
  • a comprehensive change in the economic "rules of the road" by which we measure the impact of our decisions on the environment
  • negotiation & approval of a new generation of international agreements
  • a cooperative plan for educating the world's citizens about our global environment.

The idea is based on the post-WWII Marshall Plan that saw the United States send billions of dollars to European nations to rebuild their war shattered economies.

In order to further the idea of a GMP and to coordinate the various initiatives, NGOs, scientists, activists and groups in the field of development cooperation and global social justice the Global Marshall Plan Initiative was founded by members of the Club of Rome, the Club of Budapest, the Eco-Social Forum Europe, ATTAC and other organisations in Frankfurt, Germany in 2003. The two main objectives are to find new ways and sources of financing in development cooperation, predominantly pursuing the Millennium Development Goals of the UN and the worldwide propagation of the eco-social market economy, which is considered to be one of today's key strategies of initiative. The *Green Marshall Plan* is a policy initiative developed by Canadian greens Constantine Kritsonis and Craig Hubley. It offers a basis for global central banks to *bail out the planet* by creating new money to pay for green infrastructure. Here below it is presented as a policy proposal for the Green Party of Canada.

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. Operative

Be It Resolved: Green MPs and the GPC will advocate for Bank Of Canada money creation to offer interest free (or sovereign interest level) loans and grants for green infrastructure and efficiency projects. Such projects may include the creation of for profit crown corporations that build own and operate infrastructure and efficiency projects. Green MP's and the GPC will advocate The Bank of International Settlements support all central banks under its structure engage in sovereign coordinated Green Marshall Plans. Be It Further Resolved, A royal commission will be established to determine the feasibility of creating such crown corporations in given fields of expertise and offer a plan for a virtually carbon free Canada. The royal commission would create specific objectives and operating procedures for the green crown corporations. Grants to crown corporations will take preference over any grants to private interests. One example of a green project, which could be owned by a crown corporation: fast electric vehicle charging stations for EVs.[1]

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