The city of Bristol, known as one of the most sustainable European cities, has implemented an alternative currency system designed to support Bristol’s local economy and reduce environmental footprints of long supply chains. The Bristol Pound was launched in 2012 as a joint non-profit enterprise between Bristol Pound Community Interest Company and the bank Bristol Credit Union. The Bristol Pound is a voluntary system based on the citizen's commitment to support the value of living in an economically, socially and environmentally sustainable city. It is the UK’s first citywide local currency, the first to have electronic accounts managed by a regulated financial institution and the first that can be used to pay local taxes. At this moment (2015) it is considered the world's most successful local currency with the equivalent of around 700,000 £B in circulation and 800 local businesses involved.