The document proposes expanding Brazil's submission on early action for greenhouse gas emissions reductions to establish an international low carbon financial mechanism. It suggests recognizing and rewarding "early" reductions from 2010-2020 beyond existing targets, and "additional" reductions beyond post-2020 targets, with a new "climate currency" (CLC). Early and additional action would be rewarded in CLC to acquire low carbon services and technology, establishing a virtuous cycle of further reductions. An Early and Additional Action Mechanism (EAAM) and Fund (EAAF), regulated under the UNFCCC, would issue and regulate the CLC, attracting capital flows to reward certified reductions. This mechanism would generate economic and social benefits while being complementary to the existing Clean