##The illusion of the "honourable businessman", or why industry will not voluntarily decarbonize##
"The term honorable merchant describes the model that has grown historically in Europe for responsible participants in economic life. It stands for a pronounced sense of responsibility for one's own company, for society and for the environment. An honorable businessman bases his conduct on virtues that are aimed at long-term economic success without conflicting with the interests of society. He operates sustainably." (Source: Wikipedia)
However, ethical behavior as a businessman, or as a participant in the capitalist economic system in general, is only possible to the extent that competition allows. In other words: If my competitor does not behave in accordance with this code of the "honorable merchant", it is no longer possible for others to do so either, as they would otherwise lose their competitiveness.
Therefore, in the context of one of the most pressing problems of our time, the fight against climate change and the associated need to reduce emissions, we should decouple the profit motive from ecological necessities. Personal tradable emissions budgets offer the opportunity for such a system change. Realized through a complementary resource currency as a CO2 equivalent. This free ecological basic income is made available to all citizens to pay for their individual CO2 consumption.
A concept for an initial introduction at EU level is available with the climate currency ECO model and is supported by renowned climate scientist Professor Schellnhuber, among others.
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Providing citizens with free basic income in CO2 equivalents allows them to make conscious choices about their consumption patterns and incentivizes reductions in individual emissions.