In Western Australia we are trialing a new approach to local currency called an Emissions Reduction Currency System.  Instead of basing our currency, the booya, on hours or conversions to dollars we are instead basing it on the communities efforts to reduce greenhouse gases directly.  Details of our evolving approach are on our website www.maiamaia.org and our blog www.themaiamaiaproject.blogspot.com .

Conceptually we feel that greenhouse gas emissions have amazing and unprecedented properties that make them a good basis for a currency.

1. They are measureable (quite easily in many instances using government researched factors);

2. They are accessible (anyone can create them);

3. They have a real and universal economic value (much much more than any government influenced by vested interests has yet to put on them);

4. They are an indicator of trust and goodwill (since when we reduce our emission it positively benefits everyone else on the planet).

By backing a local currency with emissions reductions we can immediately recognise those values economically in our community today, and this economic value will be transferrable to other similar local currencies.

Businesses in the scheme can advertise their support for the currency project by 'donating' collected currency back to worthy community projects where they can be used to obtain discounts or to pay volunteers.  In this way one act of responsibility towards climate change can support multiple iterations of positive actions.  In a similar way, emissions reductions by businesses can be turned into local currency through their donation back to the community.

I am in Portland visiting my sister through November and I would like to meet with people associated with TransitionPDX or similar initiatives to swap ideas.