What if debt was written off to protect climate and nature?

From India Bourke / BBC: Debt-for-nature or debt-for-climate swaps are financial tools that allow indebted countries to refinance their debt and use the money saved to restore ecosystems and build environmental resilience. Ecuador, with the help of Credit-Suisse and the US development bank, refinanced it’s debt in 2023 in exchange for putting at least $12 million a year into conservation efforts in the Galapagos.

Read the original story here.

Issue Areas:

Environment, Financial Institutions, Sustainable Development

Impact Areas:

Creating New Economic Paradigms, Environmental Sustainability

Actors:

Government

Communities Served:

Nature and the Environment

Strategies:

Designing Culturally Specific Solutions, Reallocating Government / Public Financing, Regeneration, Trust in Institutions

Success Factors:

Business With Social Goals, Cultivating Collaborations, Overcoming the Big Challenges, Resilience, Using Creative Financing, Using Financial Incentives

Geographic Region:

South America

Countries:

Ecuador

Date:

December 13, 2023

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