Publication Type

Journal Article

Version

publishedVersion

Publication Date

7-2023

Abstract

The Regenerative Finance (ReFi) movement aims to fundamentally transform the governance of global common pool resources (CPRs), such as the atmosphere, which are being degraded despite international efforts. The ReFi movement seeks to achieve this by utilizing digital monitoring, reporting, and verification (D-MRV); tokenization of assets; and decentralized governance approaches. However, there is currently a lack of a clear path forward to create and implement models that actually drive the “Re-” in ReFi beyond perpetuating the existing extractive economics and toward actual regeneration. In addition, ReFi suffers from growing pains, lacking a common interoperability framework and definition for determining what a ReFi project is and how the individual components align toward the grand ambition. This paper provides a definition of the ReFi stack of interconnected components and examines how it can address limitations in climate change accounting, finance and markets, and governance. The authors also examine the theory of regenerative economics and CPRs to encourage further discussions and advancements in the ReFi space. The crucial question remains if and how ReFi can drive a change in paradigm toward the effective regeneration of global CPRs.

Keywords

blockchain technology, climate change, decentralized governance, distributed ledger technology, common pool resources, polycentricity, climate accounting

Discipline

Finance and Financial Management | Strategic Management Policy

Research Areas

Strategy and Organisation

Publication

Frontiers in Block Chain

Volume

6

First Page

1

Last Page

13

ISSN

2624-7852

Identifier

10.3389/fbloc.2023.1165133

Publisher

Frontiers Media

Copyright Owner and License

Authors

Additional URL

https://doi.org/10.3389/fbloc.2023.1165133

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