African leaders want debt relief for climate action
They are grappling with two crises at once | Middle East & Africa
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They are grappling with two crises at once | Middle East & Africa
Critics are poking holes in debt-for-nature swaps, and they may need improving, but the technique has power
ENVIRONMENTAL, social and governance (ESG) bonds tied to debt swaps arranged by Credit Suisse and Bank of America Corp (BofA) are being reclassified by the fund managers buying them, in a move they say is needed to protect their investment clients from mislabelling.
Rest of World News: Gabon has completed a $500 million debt-for-nature swap that helps to refinance a small portion of its debt and locks in funds for marine conservation.
Debt-for-nature swaps have long been the obscure brainchild of conservation finance specialists, often dismissed or overlooked. Click to read more...