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TWN
Info Service on Biodiversity and Traditional Knowledge (Jun24/04) We are pleased to share a new TWN Briefing Paper that examines debt-for-nature-swaps and questions the hype surrounding these instruments. In theory, such swaps allow developing countries to exchange their existing debt with new obligations at lower interest rates and/or longer maturities, with some of the difference in proceeds purportedly allocated to biodiversity projects. While debt-for-nature swaps have been touted as an exciting solution to both the debt and biodiversity crises, there are several concerns. These include (but are not limited to) low overall impacts on a country’s debt sustainability; questionable environmental impacts while potentially opening the door to ‘greenwashing’; distraction from the real need to address the debt crisis and developed countries’ obligations to provide financial resources to developing countries for biodiversity action; and a lack of transparency in decision-making processes on debt-for nature swaps. The
briefing paper is available here: https://twn.my/title2/briefing_papers/twn/Debt%20swaps%20TWNBP%20 With
best wishes,
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