Daniel B Magraw Jr, Grace Menck Figueroa
- Sustainable development — Debts — Developing countries — Natural resources — Biodiversity — Climate change — Marine environment, protection
Published under the auspices of the Max Planck Foundation for International Peace and the Rule of Law under the direction of Rüdiger Wolfrum.
1 Debt-for-nature swaps, invented in the mid-1980s, involve creative alternative funding mechanisms to finance sustainable development projects in low-income countries. Although various financial arrangements may be used, a debt-for-nature swap (‘DNS’) basically leverages the debt of a low-income country to obtain a commitment from that country to protect nature and possibly to help finance that protection; sovereign debt is forgiven in return for the environmental commitment, and the savings in debt servicing are invested in environmental conservation and...