Jean-Luc Baradat

Co-founder and CEO @Compte Co2

CO2 Account offers classical neobanking services (real-time balance, instantaneous transfer, Card payment, frictionless user experience, low-cost), yet a unique solution for daily climate action. Indeed, CO2 accounts are not held in euros, but in green-euros (€G). A green-euro is a third form of the euro (complementary to the cash and scriptural forms). One €G is one euro backed with CO2 reductions. One €G equals one € always (no exchange rate).In concrete terms, a household that carpools or takes its bicycle to work reduces its CO2 emissions without investing. They save at least €800 a year in unpaid car expenses and carbon tax, but above all they avoid emitting one tonne of CO2. Currently, this collective gain is not recognized. We propose that for this ton of GHG emission reduction, the household receives 44.60 \"€G\". €G is therefore a new \"currency\", dedicated to the fight against climate change, created each time an economic agent reduces its CO2 emissions (calculated ex-post, to eliminate the rebound and free riding effect). This value is set by the current French carbon tax.Eventually, in order to deliver the European Green Deal, one day, economic agents can use €Gs to pay part of their taxes, European Member States to pay part of their contribution to the European budget, and Central Banks could favor securities denominated in €Gs. €Gs could thus become a very compelling first use case of a European Central Bank Digital Currency (CBDC).Economics agents are thus incentivized to reduce their CO2 emissions through currency innovation.