So-called “debt-for-nature swaps” have regained prominence in recent years as part of efforts to raise finance for conservation efforts across biodiverse developing countries.
These “swaps” are financial agreements in which a conservation organisation or government reduces, restructures or buys a developing country’s debt at a discount in exchange for investment in local conservation activities.
Despite a biodiversity “finance gap” estimated at $700bn per year, little finance has been forthcoming from developed countries to help debt-distressed lower-income countries meet their biodiversity and climate targets.
One expert, who helped Ecuador negotiate a debt conversion deal in 2023, tells…
