An emerging approach to the conservation of wildlife, which involves conservation organizations (usually from developed countries) acquiring part of the international debt of a particular developing country at an agreed discount price. The organization then redeems the debt in local currency, and uses it to fund conservation activities such as the setting up and running of nature reserves and national parks. Supporters of such schemes claim that there are no losers and few financial risks in this innovative form of international financial transaction, and for this reason it is an ideal way of raising the financial resources required for major conservation initiatives. The debt‐for‐nature swap mechanism also helps to break down some of the persistent barriers that inhibit collaborative policies in a world of sovereign states—including lack of cooperation, different agendas and different objectives, short‐term perspectives, and inward‐looking and territorially defined concerns.
Subjects: Environmental Science.