Regenerative Bonds: Formal Debt, Mutual-Aid, and Local Settlement Capacity (opens in new tab)

This paper develops regenerative bonds as formal debt instruments whose disclosed use-of-proceeds and governance rules allocate proceeds to locally governed settlement systems designed to strengthen settlement capacity across locally specified productive, ecological, care, mutual-aid, and repair commitments without converting those commitments into investor collateral. It separates bondholder claims from local redeemable commitments and models c...