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Lina Bazeer
Feb 21, 2021
In Final submissions
Our proposal explores how the GRC as a parallel currency can be calculated and evaluated through a multidisciplinary network, using an example case study of Balsa wood in the construction for wind turbines. Balsa wood is a unique natural resource, given its light weight in proportion to its strength, fast growth time and the preservation of tropical canopy, making it a favourable option in the production of wind turbine blades. Mainly found in parts of South America – principally Ecuador, increasing demand for Balsa Wood has almost doubled prices since 2019. Accordingly, in 2019 the Global Balsa Wood Market Report estimated the market size to be equal to USD 145.8 million dollars. To reach this estimate, the report considers production capacities, demand, product developments, revenue generation, and sales. But what of carbon offsetting capacities, or the loss in biodiversity when Balsa wood is harvested? What about the increase in illegal logging and tribal violence that takes place when Balsa wood becomes such a valuable commodity? The GRC aims to reform our understanding of economics while shifting our growth models to an era of balance. To do so, the GRC considers the social, cultural, environmental, and ethical costs of resources from a range of different academic perspectives. To explore this with a worked example, we demonstrate a conceptual evaluation of the GRC cost of Balsa Wood in the diagram attached below Click the link or see pictures below for more detail. Though Balsa Wood is considered a valuable resource purely for its strength within a wind turbine blade, resource procurement requires a more globally responsible approach. While there is strength in creating jobs and sources of income for South American people, there are also sizeable negative impacts on the environment, alongside cultural and ethical harms. Consequently the GRC cost for Balsa Wood would be relatively high due to its stronger environmental, social, ethical, and cultural effects, raising the question of whether the pursuit of sustainable energy should really come about through such unsustainable practices. As a conceptual example of the GRC, this highlights the change in perspective needed to move forward with multidisciplinary thinking keeping global responsibility and wellbeing at its core. Far from simple, the evaluation methods of the GRC will require great effort in quantifying each element, using the added expertise of mathematicians and economists to do so. While there is much to develop further and add nuance to this concept, our proposal highlights that a new way of thinking is vital if we are to be serious about sustainability. The GRC will show the true cost of our actions, improving transparency in decision making, and holding our generation to account by those of the future. References Images
#FinalSubmission D21-06 #globalresponsibility  content media

Lina Bazeer

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