Creating a Global Ecological Currency

An article about ecological currency by Mathis Wackernagel of the Global Footprint Network appeared in the latest WME Magazine. He discusses the concept that 80% of the world's population lives in countries that use more resources than their own countries can supply (ecological debtors). Australia is an ecological creditor and supplies to other countries as it has a relatively small population and vast resources. Though despite dependence on export of ecological credit overseas, it does this at the expense of its own biodiversity and ecological integrity. Wackernagel argues that the incentive for countries like Australia to manage their economy sustainably is to protect this critical part of the economy for future generations.

You can read more in WME Magazine, which is currently available as part of the subscription to EIANZ.

Also watch the following 5 minute interview with Mathis Wackernagel...

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