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Positive Money is a not-for-profit research and campaigning organisation based in London. Positive Money’s vision is for a money and banking system that enables a fair, democratic, and sustainable economy.

History
Positive Money was founded in 2010 by Ben Dyson after watching the financial crisis unfold. The group created explanatory videos on abolishing debt-based currency to arrest climate change.

In 2013, Positive Money created the International Movement for Monetary Reform.

In 2016, Positive Money founder Ben Dyson joined the Bank of England, working on Central Bank Digital Currency.

Sovereign Money
The Bank of England explains how the majority of money in the modern economy is created by commercial banks making loans. Under sovereign money, commercial banks would not have the power to create new money. Money creation would be the sole preserve of the state through its central bank.

Green Bank of England
The Bank of England is stress testing the largest UK banks and insurers against climate-related financial risks. Positive Money called for fossil fuel assets being excluded from bond purchases. After Positive Money, 350, and SumOfUs delivered a petition with 65,000 signatures, the Bank of England updated its remit for environmentally sustainable growth with transition to net zero.

Critics
The Vice-President of the European Central Bank listed Positive Money as having a narrow banking as a structural reform proposal. Critics say narrow banking risks providing the economy with too little credit. Joseph Huber explains that a Sovereign Money system “Abandons the split-circuit structure based on a mixed money supply of deposits and reserves in favour of a single circuit on the basis of sovereign money only, issued by the central bank.”