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The Holos (Ø,HOL)
A unit of account for denominating Capital
Clarifying non-market monetary valuation
The Holos addresses the perception challenge inherent in applying methods of economic valuation of mixed capital assets and value flows that include non-market components – thereby clarifying non-market (including non-use, deontological and resilience value) contributions in mixed market and non-market monetary valuations
Fungible in support of analytical processes
Pegged to a daily IMF currency basket (SDR) allowing accurate integration with monetarised market values in base currency of valuation
The Holos Ratios
The Primary Holos Ratio is:
Component of capital valuation denominated in Holos
Total capital valuation ( Hols denominated component plus all other components)
In non electronic reports it can be represented after a line item as:
For example: Item xxxx $3,000,000,000.00
Which denotes that only 5% of this valuation is market based and potentially exchangeable
95% of the value being non-market based and therefore denominated in the Holos as a base unit of account prior to conversion to the reporting currency of USD
The Holos is pegged against the
IMF Special Drawing Rights (SDR)
With effect from August 1, 2022, the IMF has determined that the five currencies that meet the selection criteria for inclusion in the SDR valuation basket will be assigned the following weights based on their roles in international trade and finance:
-
U.S. dollar 43.38 percent
-
Euro 29.31 percent
-
Chinese renminbi 12.28 percent
-
Japanese yen 7.59 percent
-
Pound sterling 7.44 percent
https://www.imf.org/en/Topics/special-drawing-right (accessed August 2022)
During the new valuation period that runs from August 1, 2022 until July 31, 2027.
The Executive Board has decided that, effective August 1, 2022, the value of the SDR will be the sum of the values of the following amounts of each currency: [1]
U.S. dollar
0.57813
Euro
0.37379
Chinese yuan
1.0993
Japanese yen
13.452
Pound sterling
0.080870
https://www.imf.org/en/Topics/special-drawing-right (accessed August 2022)
Special Drawing Rights (SDRs) are an asset, though not money in the classic sense because they can’t be used to buy things. The value of an SDR is based on a basket of the world’s five leading currencies – the US dollar, euro, yuan, yen and the UK pound. The SDR is an accounting unit for IMF transactions with member countries – and a stable asset in countries’ international reserves.
https://www.imf.org/en/Topics/special-drawing-right (accessed April 2021)
https://www.imf.org/external/np/fin/data/rms_five.aspx#fn2 accessed Aug 2022
Exchange rates are published daily except on IMF holidays or whenever the IMF is closed for business.
A basket of currencies determines the value of the SDR
The SDR value in terms of the U.S. dollar is determined daily based on the spot exchange rates observed at around noon London time, and posted on the IMF website.
Currencies included in the SDR basket have to meet two criteria: the export criterion and the freely usable criterion. A currency meets the export criterion if its issuer is an IMF member or a monetary union that includes IMF members, and is also one of the top five world exporters. For a currency to be determined “freely usable” by the IMF, it has to be widely used to make payments for international transactions and widely traded in the principal exchange markets. Freely usable currencies can be used in Fund financial transactions.
https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR accessed April 2021
The Holos Custodian Committee and Green Growth Int Ltd makes no warranties, express or implied, regarding these tables or the performance of this site. They shall not be liable for any losses or damages incurred in connection with this site.
Holism-The Philosophical approach underpinning the Holos
Extract from “What is Holism.” (2018)
Holism (from ὅλος holos, a Greek word meaning all, entire, total) is the idea that all the properties of a given system (physical, biological, chemical, social, economic, mental, linguistic , etc.) cannot be determined or explained by its component parts alone. Instead, the system as a whole determines in an important way how the parts behave.
The general principle of holism was concisely summarized by Aristotle in the Metaphysics: "The whole is more than the sum of its parts" (1045a10).
Reductionism is sometimes seen as the opposite of holism. Reductionism in science says that a complex system can be explained by reduction to its fundamental parts. For example, the processes of biology are reducible to chemistry and the laws of chemistry are explained by physics.
The term holism was introduced by the South African statesman Jan Smuts in his 1926 book, Holism and Evolution. [1] Smuts defined holism as “ The tendency in nature to form wholes that are greater than the sum of the parts through creative evolution. “ [2]
Holism in science
In the latter half of the 20th century, holism led to systems thinking and its derivatives, like the sciences of chaos and complexity Systems in biology, psychology, or sociology are frequently so complex that their behaviour is, or appears, "new" or “ emergent": it cannot be deduced from the properties of the elements alone. [3]
Holism in Ecology
Ecology is the leading and most important approach to holism, as it tries to include biological, chemical, physical and economic views in a given area. The complexity grows with the area, so that it is necessary to reduce the characteristic of the view in other ways, for example to a specific time of duration.
John Muir, Scots born early conservationist [9] , wrote "When we try to pick out anything by itself we find it hitched to everything else in the Universe“
1. ^ According to the Oxford English Dictionary
2. ^ cf. Henri Bergson
3. ^ Bertalanffy 1968, p.54.
9. ^ Reconnecting with John Muir By Terry Gifford, University of Georgia, 2006
The Linguistic foundations of ‘Holos’
Lexicon :: Strong's G3650 - holos
ὅλος hólos, hol'-os; a primary word; "whole" or "all", i.e. complete (in extent, amount, time or degree), especially (neuter) as noun or adverb:—all, altogether, every whit, + throughout, whole.
Strong’s definition
† — Indicates that the form listed is a variant spelling or variant form of the Greek word found in Strong’s Greek Dictionary under that number.
+ — Denotes a rendering of one or more Greek/Hebrew words in connection with the one under consideration.
× — Denotes a rendering that results from an idiom peculiar to the Greek or Hebrew.
( ) — Denotes a word or syllable sometimes given in connection with the principal word to which it is annexed.
[ ] — Denotes the inclusion of an additional word in the Greek/Hebrew.
Pronunciation hol'-os (Key)
https://en.wikipedia.org/wiki/%C3%98 accessed April 2021
Distinguishing the
Ø Symbol of the Holos
In Unicode: U+00D8 Ø LATIN CAPITAL LETTER O WITH STROKE (HTML Ø · Ø)
Latin Ø / ø is not related to, and should not be confused with similar-looking Greek Φ / φ or Cyrillic Ф / ф.
•The letter "Ø" is sometimes used in mathematics as a replacement for the symbol "∅" (Unicode character U+2205), referring to the empty set as established by Bourbaki, and sometimes in linguistics as a replacement for same symbol used to represent a zero. The "∅" symbol is always drawn as a slashed circle, whereas in most typefaces the letter "Ø" is a slashed ellipse.
•The diameter symbol (⌀) (Unicode character U+2300) is similar to the lowercase letter ø, and in some typefaces it even uses the same glyph, although in many others the glyphs are subtly distinguishable (normally, the diameter symbol uses an exact circle and the letter o is somewhat stylized). The diameter symbol is used extensively in engineering drawings, and it is also seen in situations where abbreviating "diameter" is useful, such as on camera lenses. For example, a lens with a diameter of 82 mm would be labeled ⌀ 82 mm.
•Ø or ⌀ is sometimes also used as a symbol for average value, particularly in German-speaking countries. ("Average" in German is Durchschnitt, directly translated as cut-through.)[5]
•Slashed zero is an alternate glyph for the zero character. Its slash does not extend outside the ellipse (except in handwriting). It is often used to distinguish "zero" ("0") from the Latin script letter "O" anywhere that people wish to preempt confounding of the two, particularly in encoding systems, scientific and engineering applications, computer programming (such as software development), and telecommunications. It is also used in Amateur Radio call signs, such as XXØXX, XØXXX, and so on in the United States and in other countries. See, also,[6] for information on international amateur radio call signs.
•The letter "Ø" is often used in trapped-key interlock sequence drawings to denote a key trapped in a lock. A lock without a key is shown as an "O".
•The letter "Ø" is also used in written music, especially jazz, to type an ad‐hoc chord symbol for a half‐diminished chord, as in "Cø". The typographically correct chord symbol is spelled with the root name, followed by a slashed degree symbol, as in "C𝆩". The slashed degree symbol is found in the musical symbols block of Unicode but is unsupported by some fonts
https://en.wikipedia.org/wiki/%C3%98 accessed April 2021
Scope of application of the Holos Ratios
Non-market monetary valuation occurs across a number of analytical methods used by professional organisations. These are conveniently summarised by the following diagrams from the cited sources
Approaches for the estimation of nature's values
TEEB (2010), The Economics of Ecosystems and Biodiversity Ecological and Economic Foundations. Edited by Pushpam Kumar. Earthscan: London and Washington
Comparison of sustainability and natural capital accounting approaches
Economics for the Environment Consultancy Ltd (eftec) 2015 : DEVELOPING CORPORATE NATURAL CAPITAL ACCOUNTS Final Report For the Natural Capital Committee January 2015
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