RESEARCH | BFG
Responsible Finance and Web 3
Discover how Distributed Ledger Technologies (DLTs) and Web3 tools are transforming, or claim to transform, the instruments of responsible finance, through a rigorous and critical analysis intended for traditional finance professionals and decentralized finance practitioners alike.
In this report, you will find in particular:
The deep roots of regenerative finance, which predate Web3, from the Rodale Institute to mission-driven banks such as Triodos, by way of CARE accounting and steward ownership, to understand what Web3 is truly the heir to.
A critical mapping of on-chain instruments, dMRV, Impact Tokens, Hypercerts and Alpha Bonds, setting out what these tools make possible, what they do not solve, and the conditions without which they remain mere promises.
The question of cryptographic proof of impact: can we move from a declarative logic to a verifiable on-chain obligation of results? Illustrated by carbon credits from clean cookstoves in Kenya and impact certification through environmental DNA (eDNA) in the Amazon.
An analysis of systemic risks, the vulnerability of oracles, governance asymmetries within DAOs, and the risk of hyper-financialization of life as nature becomes a listed asset.
The 2026 Report
- Download the PDF of 140 pages or (soon) buy the printed version
- Correct / comment: Have a suggestion, comment, or correction? Annotate or comment directly on the collaborative version of the report.
- IA Chatbot: Interact (in French) with the report’s content and primary sources via NotebookLM, an AI agent powered by Gemini.
The Launch Event (in French)
À l’occasion de la publication du rapport le 8 juin 2026, une conversation ouverte, organisée avec Bpifrance, l’Institut Louis Bachelier, la Chaire Fintech de l’Université Paris Dauphine et Ethereum France a réuni une centaine de personnes au Hub Bpifrance pendant plus de 2h.
Pas d’estrade ou de face à face entre experts et audience mais des « invités », certains « spéciaux », simplement assis en cercle. Le sujet est introduit par un facilitateur pendant 10-15 minutes puis s’en suit une conversation où quiconque peut prendre la parole pour intervenir, poser des questions et débattre. À écouter en Podcast sur Apple, Deezer ou Spotify.