ESG - 'Amazonia' Bonds Face Hurdles Amid Political Push For First-Ever Rainforest Debt | Benzinga
The Amazonia Bond proposal, which aims to raise funds for the preservation of the Amazon rainforest, is encountering skepticism and technical challenges. This initiative, backed by several South American countries, is facing hurdles despite political support.
What Happened: The proposal for Amazonia Bonds, designed to secure low-cost funding for the protection of the Amazon, is facing resistance, Reuters reported on Thursday. The initiative, proposed by the Inter-American Development Bank and World Bank, is experiencing obstacles within the governments of Brazil and Colombia, two of the key countries in the region.
The Amazonia Bonds, if successful, would mark a significant milestone in nature-linked securities. The initiative is in line with the call from the presidents of Brazil, Colombia, and other Amazon basin countries for developed nations to contribute more to rainforest protection.
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Despite the political backing, some officials are uncertain ...