News

Power unlocked: Debt funds conservation, refugee brings solar to his camp

1. Belize

A vigorous model of debt restructuring is freeing up funds for marine conservation. Belize has long lacked resources for environmental protection, so it was a good candidate for the Blue Bonds for Ocean Conservation, a financial mechanism pursued by The Nature Conservancy.

The plan allowed Belize to restructure $553 million of the country’s debt in 2021, and it is expected to generate $4 million annually for environmental protection over two decades. In exchange, Belize has committed to protecting a minimum of 30% of its marine territory and strengthening its management of conservation sites.

Why We Wrote This

When expectations of the norm are left by the wayside, achievement also loses boundaries. In our progress roundup, one refugee’s efforts lift the entrepreneurship of others; and women leave the sidelines to referee one of the world’s top sporting events.

Coral reefs are a major draw for tourism, which constitutes 40% of the country’s economy. But that revenue is no longer enough to live by. The blue bond is also supporting local initiatives for economic empowerment, such as seaweed farming.

Andre Seale/VWPics/AP/File

The Great Blue Hole is about 400 feet deep and part of the Belize Barrier Reef Reserve System, a UNESCO World Heritage Site that also hosts divers and snorkelers.

Prime Minister Juan Antonio Briceño celebrated the relationship between environmental work and economics: “We can show that conservation is good business and that it can have a direct impact on the people most affected by climate change.” The refinancing model first proved successful in the Seychelles and was approved in Barbados last fall.
Source: The Nature Conservancy

2. St. Vincent and the Grenadines

The Union Island gecko has nearly doubled its population since 2018. Famous for its intricate, colorful markings, the tiny gecko has been a favorite among exotic pet collectors since it was first spotted in 2005. Over the next decade, it became one of the most trafficked reptiles in the Eastern Caribbean, losing four-fifths of its population.

Fauna & Flora International, along with Re:wild, local nonprofits, and the forestry department, hashed out a species recovery plan. Together they worked to improve the management of protected areas and bolster anti-poaching patrols and camera surveillance. Now there are an estimated 18,000 geckos, up from 10,000 in 2018.

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