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TWN
Info Service on Biodiversity and Traditional Knowledge (May24/08) Are green and blue bonds fit for purpose? The Fourth meeting of the Subsidiary Body on Implementation (SBI-4) is scheduled in Nairobi from 21-29 May 2024. Parties to the Convention on Biological Diversity (CBD) will meet to discuss, inter alia, the topic of resource mobilization. We are pleased to share a new TWN Briefing Paper that examines the hype around green and blue bonds as biodiversity financing instruments. Green (and blue) bonds have emerged as popular tools to try to channel private capital towards environmentally beneficial projects. They are essentially debt instruments where the proceeds are earmarked for projects with purportedly positive environmental impacts. Despite the touted growth and promise of the green and blue bond markets, these instruments face significant limitations in their ability to address the biodiversity crisis. These include: (i) lack of clear standards and greenwashing risks, (ii) failure to address root causes of biodiversity loss, (iii) debt burdens for developing countries, (iv) lack of scale, (v) challenges in measuring impacts, and (vi) shifting of responsibilities from developed to developing countries. The
briefing paper is available here: https://www.twn.my/title2/briefing_papers/twn/Green%20blue%20 With
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