A policy report on Green Growth is proposed as a collaborative effort between
Ø UCLEI – the Environmental Institute of University College London under the guidance of Professor Mark Maslin
Offering environmental economics from a mathematical perspecitve, the proposed report is meant to integrate the findings of two publications and add extra value by making use of innovative software methods:
Ø Are We On Target? – UK Greenhouse Gas Emissions was published by UCLEI: and made the Guardian’s front page on March 6th, 2007
o The report answered the following question: Audit of UK Greenhouse Gas emission to 2020: will current Government policies achieve significant reductions?
o As an analysis of the on-line statistics of the Bank of England, the submission suggests Changing the Cash : Credit Ratio in the Money Supply to Ameliorate Climate Change.
Unique outcome is expected from using proprietary ‘3d metric’ software that has implemented two highly innovative mathematical methods:
- ‘3d metric’ forecasting as a way of projecting any numerical data over any time series
- ‘3d metric’ layering as a way of visualizing multi-variant data and making data comparable.
Data is to be selected that is considered significant and relevant for policy in terms of Government as well as the financial sector. Since the proprietary software can forecast short, medium and long term data relating to both finance and data, it is anticipated to demonstrate not only that economic growth is possible but also how environmental risks could be mitigated.
By combining the right selection of data from the right climate and financial sources over appropriate historic frameworks, it is anticipated that predictions can be made with a higher degree of accuracy than hitherto available.
The forecasting method has so far been tested for financial market data and proven well above average in terms of numerical accuracy as well as the correctness of the trend direction.
Given the climate change challenge ahead for all of us, it is hoped that the new software tool will prove useful for making better decisions with improved data visualization in both Westminster and the City.
The Green Credit report illustrates the financial mechanism for Government to practise green governance.
The Green Growth report will demonstrate how the financial sector can continue business as usual while Governments can fuel the economy financially with not interest-bearing ‘narrow’ money as the Bank of England refers to it.
Thus GDP will rise as the foremost measure of ‘economic growth’.
With respect to inflation, it will be shown that inflation depends much more on the supply of CREDIT than on price increases.
‘Green Growth’ through ‘green credit‘ is thus a sustainable and necessary way forward.