Carbon intensity and Central bank digital currency: Difference between pages

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imported>Doug Williamson
(Add quote - source - FT Environmental Jargon Buster.)
 
imported>Doug Williamson
(Mend link.)
 
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''Sustainability - greenhouse gases - metrics.''
(CBDC).


Carbon intensity measures the greenhouse gas emissions of a process per unit of revenue earned by it.
A CBDC is a digital currency issued and administered by a central bank.


For example, the Bahamanian Sand Dollar.


:<span style="color:#4B0082">'''''Absolute emissions still go up'''''</span>


:"Some [   ] countries have adopted carbon intensity targets, rather than absolute emissions targets, to accommodate their fast-growing economies. For example, China’s target is to reduce carbon intensity by more than 65 per cent by 2030, relative to 2005 levels. But that reduction in carbon intensity belies the fact that absolute emissions will rise even while that goal is met."
Important potential benefits of CBDCs include:
* Speed
* Transparency
* Reduced costs
* More efficient cross-border remittances
 
 
:<span style="color:#4B0082">'''''Bank of England considering CBDC'''''</span>
 
:"A Central Bank Digital Currency (CBDC) [in the UK] would allow households and businesses to directly make electronic payments using money issued by the Bank of England.
 
:We have not yet made a decision on whether to introduce CBDC.
 
:The Bank [of England] provides physical money in the form of banknotes, which can be used by households and businesses to make payments.
 
:We also provide electronic money, but this can only be used by banks and selected financial institutions.
 
 
:A Central Bank Digital Currency would make electronic money, issued by the Bank of England, available to all households and businesses.
 
:This would allow everyone to make electronic payments in central bank money.
 
:... CBDC is sometimes thought of as equivalent to a digital banknote, although in some respects it may have as much in common with a bank deposit.
 
:Any CBDC would be introduced alongside – rather than replacing – cash and bank deposits."
 
:''Bank of England - 2020.''
 
 
:<span style="color:#4B0082">'''''Improving cross-border payments'''''</span>
 
:"Many central banks are researching CBDC, and there are clear opportunities for CBDCs to improve cross-border payments and protect monetary sovereignty."
 
:''Bank for International Settlements, Paper 115 - March 2021''.
 
 
:<span style="color:#4B0082">'''''Supporting new technologies'''''</span>
 
:"The introduction of a [UK] Central Bank Digital Currency would be a significant development which could help support the adoption of new technologies (e.g. blockchain) in financial services.
 
:There is concern that retail CBDC could lead to
increased data being held on the consumer. One option would be to follow the proof of concept developed by the European System of Central Banks, which explored allowing users to remain anonymous for low value transactions, but still maintaining AML/CTF checks for larger transactions, and ensuring that identity and transaction history were not available to central banks or the intermediaries."  
 
:''Kalifa Review of UK Fintech - February 2021''.


:''Climate change A to Z - Financial Times.''




== See also ==
== See also ==
* [[Account]]
* [[Altcoin]]
* [[Anti money laundering]] (AML)
* [[Bank of England]]
* [[Bank for International Settlements]]
* [[Bitcoin]]
* [[Blockchain]]
* [[Central bank]]
* [[Countering terrorist financing]] (CTF)
* [[Crypto-assets]]
* [[Cryptocurrency]]
* [[Cryptography]]
* [[Currency]]
* [[Deposit]]
* [[Digital currency]]
* [[Distributed ledger]]
* [[e-krona]]
* [[e-money]]
* [[Ether]]
* [[European System of Central Banks]]
* [[Fiat currency]]
* [[Gold standard]]
* [[Libra]]
* [[Monetary]]
* [[Money]]
* [[Multi-CBDC arrangement]]
* [[Proof of concept]]
* [[Ripple]]
* [[Sand Dollar]]
* [[Sovereignty]]
* [[Stablecoin]]


* [[Benchmarking]]
===External links===
* [[Carbon]]
[https://www.bankofengland.co.uk/research/digital-currencies Central bank digital currencies - Bank of England]
* [[Emissions]]
* [[Environmental concerns]]
* [[Environmental KPI]]
* [[Environmental Objective]]
* [[Environmental profit and loss]]
* [[Greenhouse gas]]
* [[Sustainability]]


[https://www.bis.org/about/bisih/topics/cbdc.htm Bank of International Settlements, Central Bank Digital Currency]


==External link==
[https://www.youtube.com/watch?app=desktop&v=srJMnI8WFRY ACT Webinar, Central Bank Digital Currencies, Overview of the Bank of England's Work, March 2021]]
*[https://www.ft.com/content/c617f52a-b46a-4581-8b66-8d92f672f77c Climate change A to Z - Financial Times]


[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Investment]]
[[Category:Long_term_funding]]
[[Category:Identify_and_assess_risks]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Cash_management]]
[[Category:Financial_products_and_markets]]
[[Category:Liquidity_management]]
[[Category:Technology]]

Revision as of 16:40, 25 March 2021

(CBDC).

A CBDC is a digital currency issued and administered by a central bank.

For example, the Bahamanian Sand Dollar.


Important potential benefits of CBDCs include:

  • Speed
  • Transparency
  • Reduced costs
  • More efficient cross-border remittances


Bank of England considering CBDC
"A Central Bank Digital Currency (CBDC) [in the UK] would allow households and businesses to directly make electronic payments using money issued by the Bank of England.
We have not yet made a decision on whether to introduce CBDC.
The Bank [of England] provides physical money in the form of banknotes, which can be used by households and businesses to make payments.
We also provide electronic money, but this can only be used by banks and selected financial institutions.


A Central Bank Digital Currency would make electronic money, issued by the Bank of England, available to all households and businesses.
This would allow everyone to make electronic payments in central bank money.
... CBDC is sometimes thought of as equivalent to a digital banknote, although in some respects it may have as much in common with a bank deposit.
Any CBDC would be introduced alongside – rather than replacing – cash and bank deposits."
Bank of England - 2020.


Improving cross-border payments
"Many central banks are researching CBDC, and there are clear opportunities for CBDCs to improve cross-border payments and protect monetary sovereignty."
Bank for International Settlements, Paper 115 - March 2021.


Supporting new technologies
"The introduction of a [UK] Central Bank Digital Currency would be a significant development which could help support the adoption of new technologies (e.g. blockchain) in financial services.
There is concern that retail CBDC could lead to

increased data being held on the consumer. One option would be to follow the proof of concept developed by the European System of Central Banks, which explored allowing users to remain anonymous for low value transactions, but still maintaining AML/CTF checks for larger transactions, and ensuring that identity and transaction history were not available to central banks or the intermediaries."

Kalifa Review of UK Fintech - February 2021.


See also


External links

Central bank digital currencies - Bank of England

Bank of International Settlements, Central Bank Digital Currency

ACT Webinar, Central Bank Digital Currencies, Overview of the Bank of England's Work, March 2021]

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