- Ecuador has launched a debt-for-nature deal that will wipe out some $1 billion in interest payments in exchange for boosting its protection of the waters around the Galápagos Islands.
- Much of the funding will focus on managing the newly established Hermandad Marine Reserve, the existing Galápagos Marine Reserve, and sustainable fishing and climate resilience efforts.
- The deal would also finance an endowment to generate ongoing funding for marine conservation in the Galápagos Islands.
- This is the world’s largest debt-for-nature deal to date.
On May 9, Ecuador launched a plan that would…
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News Source: news.mongabay.com