Dr. Gustav Peebles and Prof. Benjamin Luzzatto discuss their book, “The First and Last Bank: Climate Change, Currency, and a New Carbon Commons,” which presents a bold new approach to currency and community, one designed to help remove carbon from the atmosphere and add a powerful new tool to the fight against climate change.

The guests, propose a carbon-based monetary system inspired by the historical gold standard except designed to be regenerative rather than extractive, with carbon drawn down and securely stored while a community currency circulates in the local economy. They argue carbon can function as a viable reserve asset because it already has real market value and practical uses (for example, in soil improvement and water purification), and they outline a model of community-owned “carbon banks” that convert carbon waste into stable biochar, verify its carbon content, and issue currency chits backed by that sequestration.

By keeping storage local and governance commons-based, the model aims to rebuild trust through transparency and enable ordinary citizens to take direct climate action, complementing, not replacing, existing tools like regulation, carbon taxes, and decarbonization efforts.

This podcast is brought to you by Global Management Consultancy. For more information, please visit www.globalmanagementconsultancy.com.

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