Ecological money and finance.Introducing sustainable monetary diversity

Raphaël Didier and Thomas Lagoarde-Ségot

International Review of Financial Analysis, 2024, vol. 95, issue PB

Abstract: This paper introduces a sustainability policy prototype introducing sustainable monetary diversity to attain the Sustainable Development Goals. It first presents a new monetary policy framework to endogenize the creation, circulation, and destruction of complementary currencies. It then analyzes the implications of this new policy setting on a battery of eco-systemic, economic, monetary, and financial variables using Philia 1.0, a new ecological stock-flow consistent model. Simulations report an enhanced capacity for evolution, resilience, and fitness for evolution, lower carbon, energy, and material footprint, and improved financial stability. These findings call for further research on sustainable policy prototypes, and open fresh perspectives for global sustainability policies.

Keywords: SDG financing; Ecological finance; SFC modeling (search for similar items in EconPapers)
JEL-codes: G00 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:95:y:2024:i:pb:s1057521924003156

DOI: 10.1016/j.irfa.2024.103383

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