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Turning Debt into Nature or Nature into Debt? - The Conceptualization of Debt-for-Nature Swaps as a Strategy for Neoliberal Conservation

Klapwijk, Noa LU (2024) HEKM51 20241
Department of Human Geography
Human Ecology
Abstract
Currently, many Global South countries face an unprecedented debt crisis with large portions of their spending going to debt repayments. This financial restrain hinders their capacity to address basic needs and ecological challenges, particularly as climate change exacerbates vulnerabilities. To provide a solution for this, The Nature Conservancy (TNC) launched their Nature Bonds Program aimed at helping to restructure private debt of countries in order to free up funds for nature conservation and climate measures. However, these types of debt-for-nature (DFN) swaps, while gaining renewed interest, are criticized for their limited effectiveness in alleviating debt and addressing ecological concerns. This research critically examines the... (More)
Currently, many Global South countries face an unprecedented debt crisis with large portions of their spending going to debt repayments. This financial restrain hinders their capacity to address basic needs and ecological challenges, particularly as climate change exacerbates vulnerabilities. To provide a solution for this, The Nature Conservancy (TNC) launched their Nature Bonds Program aimed at helping to restructure private debt of countries in order to free up funds for nature conservation and climate measures. However, these types of debt-for-nature (DFN) swaps, while gaining renewed interest, are criticized for their limited effectiveness in alleviating debt and addressing ecological concerns. This research critically examines the discourse surrounding TNC’s DFN swaps and their contribution to a neoliberal approach of conservation. In this discourse, these swaps are conceptualized as a comprehensive solution, framing complex issues with socio-political and historical roots in purely financial terms, and positioning the private sector as the indispensable factor in solving the debt and ecological crises. This perpetuates neocolonial and financial systems of power and the injustices they engender, ultimately obstructing the realization of a truly just and sustainable future. (Less)
Please use this url to cite or link to this publication:
author
Klapwijk, Noa LU
supervisor
organization
course
HEKM51 20241
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Debt-for-Nature Swaps, Debt Crisis, Neoliberal Conservation, Climate/Conservation Finance, The Nature Conservancy, Critical Discourse Analysis
language
English
id
9171561
date added to LUP
2024-09-12 09:00:22
date last changed
2024-09-12 09:00:22
@misc{9171561,
  abstract     = {{Currently, many Global South countries face an unprecedented debt crisis with large portions of their spending going to debt repayments. This financial restrain hinders their capacity to address basic needs and ecological challenges, particularly as climate change exacerbates vulnerabilities. To provide a solution for this, The Nature Conservancy (TNC) launched their Nature Bonds Program aimed at helping to restructure private debt of countries in order to free up funds for nature conservation and climate measures. However, these types of debt-for-nature (DFN) swaps, while gaining renewed interest, are criticized for their limited effectiveness in alleviating debt and addressing ecological concerns. This research critically examines the discourse surrounding TNC’s DFN swaps and their contribution to a neoliberal approach of conservation. In this discourse, these swaps are conceptualized as a comprehensive solution, framing complex issues with socio-political and historical roots in purely financial terms, and positioning the private sector as the indispensable factor in solving the debt and ecological crises. This perpetuates neocolonial and financial systems of power and the injustices they engender, ultimately obstructing the realization of a truly just and sustainable future.}},
  author       = {{Klapwijk, Noa}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Turning Debt into Nature or Nature into Debt? - The Conceptualization of Debt-for-Nature Swaps as a Strategy for Neoliberal Conservation}},
  year         = {{2024}},
}