Reported 28 days ago
Wall Street bankers at JPMorgan and Bank of America are set to benefit from a new pipeline of ESG debt-for-nature swaps, following an agreement by six nonprofits at the UN COP16 summit. This initiative aims to create common standards for these deals, potentially unlocking $100 billion for climate finance by allowing countries to refinance debt while funding environmental protection. Despite the challenges in securing financing, the coalition believes that collaborative debt conversion can lead to improved outcomes for the environment and communities.
Source: YAHOO