The tricky issue of how to direct more money to projects such as preserving mangrove forests or expanding forest cover is a central sticking point for negotiators ahead of the end of the COP15 conference, slated for Dec. 19.$384 billion a yearA group of 150 financial firms pledged on Tuesday to help preserve endangered natural ecosystems through their financing and investments, which currently collectively cover assets worth more than $24 trillion.
Below are some of the ways in which money is already moving, as well as several ideas for increasing the flow of finance.Linking biodiversity gains to the cost of a government's sovereign debt is expected to grow in popularity in the coming years as moreChile this year became the first country to issue a sovereign sustainability-linked bond, raising $2 billion to help fund its climate goals.to preserve more of their natural environment in so-called "debt-for-nature" swaps.
Blue bonds are debt instruments where money is raised specifically to finance a marine or ocean-based project that provides environmental benefit, for example by preserving coral or limiting pollution., which raised $100 million in May to "help prevent marine pollution and preserve clean water resources, while supporting the country's climate goals.
In Brazil, the government-backed Amazon Fund was established in 2008 to funnel money primarily from Norway and Germany to projects that promoted protection of the rainforest. Right-wing President Jair Bolsonaro froze all new project approvals shortly after assuming office in 2009, citing irregularities among non-government organisations receiving funding, without providing any proof.