The paper emphasizes the importance of initiating discussions on establishing a global framework for debt-for-nature swaps, both for land-based ecosystems and the blue economy. Many nature-rich developing countries experiencing debt distress are increasingly showing interest in these swaps. 

However, progress is hindered by several challenges. These include complicated coordination among various creditors, including private bondholders; geopolitical tensions; the highly technical nature of determining comparable debt treatments and restructuring terms; and, most critically, a lack of transparency surrounding public debt from both debtor nations and certain creditors. A comprehensive framework could provide additional guidance on how swap proceeds can support food security, climate change mitigation and adaptation, sustainable agriculture, and other development priorities.

Debt-for-nature swaps in the blue economy

Shamba Centre