Debt Solutions for Nature: Global Coalition’s Eco-Financial Push

Six international conservation groups, including The Nature Conservancy and The Pew Charitable Trusts, have formed a coalition to establish practice standards for sovereign debt conversions focusing on nature and climate. Such conversions could unlock $100 billion in climate finance, enhancing conservation in developing nations with debt burdens.

In a groundbreaking move, six international conservation organizations have united to form a new coalition aimed at creating practice standards for sovereign debt conversions targeting nature and climate. The prominent groups, including The Nature Conservancy and The Pew Charitable Trusts, announced the coalition on Tuesday.

This effort seeks to address the financial constraints faced by low-income countries in their conservation endeavours. By scaling up sovereign debt conversions, these countries could potentially access up to $100 billion in climate and nature finance. Such conversions involve reducing national debt in exchange for the protection of vital ecosystems, a practice gaining traction globally.

The coalition, which consists of Conservation International, Re:wild, the World Wildlife Fund, and The Wildlife Conservation Society, plans to publish practice standards by 2025. These standards will address governance, operations, and conservation trust funds, aiming for a collaborative approach to debt conversion projects and policy development.

(With inputs from agencies.)