Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce by 2015 in the framework of ECOWAS (Economic Community of West African States). But besides that it is the Idea of introducing a currency that values our ecology with all its ecosystems and living organisms. The idea emerged during the Paralelo Conference 2009 at the MIS in Sao Paulo, Brazil. The conference brought together artists and designers working with media from three different countries – Brazil, the Netherlands and the United Kingdom, to discuss different ways in which collaborations across disciplinary and cultural borders can enable research and new insights into global and local ecological problems. Now think tanks like the Next Nature Lab in cooperation with the Eindhoven University of Technology undertake further research into the idea of the Eco currency. Thereby is the basic concept to express ecological value in an economic manner. The Eco currency could be integrated into our official trading currencies and represent natures share of our world.
The currency would prevent detrimental effects on the environment that find their origin in economic hopelessness. viz. a common man in Brazil who owns a small part of primeval forest wouldn’t have to sell his land so it can be deforested and farmed causing high CO2 pollution. But he would be paid a fair amount of money to conserve the forest.
The details of the currency like exchange rates, implementation, appearance, etc. is still in progress but the basic approach to value environment and maybe form it into something economically rewarding coincides with many leading heads on the field of environmental activists. Interest in our ecology is a necessity to achieve environmental advancement.
Recent foundings and further research can be found on http://www.eco-currency.net/