Today the world faces three interconnected crises: biodiversity loss, climate change, and unsustainable debt, each greatly exacerbating the other. Governments, Non-Governmental Organizations (NGOs), and Development Finance Institutions (DFIs) have increasingly focused on using commercial debt refinancing to simultaneously take action in support of conservation, build resilience to environmental change, and reduce or reprofile sovereign debt. As of June 2025, several large-scale Debt Conversion Projects for Nature, Resilience, and People (‘Debt Conversion Projects’) have achieved financial close and are under implementation.
For more information specific to TNC’s Nature Bonds Projects, please visit Nature Bonds Program website, orthe Nature Bonds Toolkit. These include Seychelles, Belize, Barbados, Gabon, The Bahamas, and Ecuador (all sponsored by The Nature Conservancy (TNC))1, the Galapagos Islands, Ecuador (sponsored by Pew Bertarelli Ocean Legacy and Ocean Finance Company), El Salvador, and Barbados‘ Debt for Climate Resilience Operation.
