Ven Now Includes Carbon Futures
5th Jul 2010
By linking Ven to CO2, Hub Culture is linking the value of the currency directly to 'carbon consequences' as reflected in the global market price for CO2, and delivering a built-in incentive for greener actions among the Hub Culture community and the world at large.
In theory, the value of Ven should appreciate inversely to carbon prices - meaning that less demand for carbon futures via greener living will help the currency to appreciate relative to other factors. In reality, the Hub Culture community and the Ven currency are still far too small to affect carbon price movements, but the roadmap has now been created, and as Ven grows, so will its value relative to CO2 contracts and futures.
The move to include carbon in the pricing components of Ven is an important step in factoring environmental externalities into the pricing and purchase actions of the Hub Culture community. As a result, these steps affect the overall relationship and value of environmental actions relative to consumption in the Hub Culture economy at large.
GGM is working closely with Hub Culture to derive Ven’s value from a basket of major currencies and commodities, including cutting edge components such as CO2 contracts.