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Belize Participates in the event hosted by Pew Trusts- Ambition into Action: Creative Financing for a Nature-Positive Future at COP28 in Dubai

Posted: Wednesday, December 6, 2023. 3:05 pm CST.

Government of Belize Press Release

Belize continues to be at the forefront of discussions on financing ambitions and nature. At COP28, the Belize Blue Bond was identified as an innovative financing tool where countries are able to address debt and finance important climate and nature co-benefits. Beverly Wade, Director of the Blue Bonds and Finance Permanence Unit, participated as a panelist along with Jennifer Morris, CEO of The Nature Conservancy, and Aparna Shrivastava, Deputy Chief Climate Officer at US International Development Finance Corporation, at an event Hosted by Pew Trusts – Ambition into Action: Creative Financing for a Nature-Positive Future. The panel discussed the Global Community’s challenge to identify non-traditional financing mechanisms where public-private partnerships can play a role in mobilizing additional funding for conservation finance, and how they can be structured to maximize impact at the community level.

Belize’s Blue Bond has created significant momentum in the area of nature-based solutions for development. Its implementation structure and successful delivery of its climate and nature ambitions serve as a model, and the country’s current efforts in leveraging this success in the design of the world’s first Project Finance for Permanence (PFP) focusing exclusively on the marine and coastal areas is pioneering.

COP28 has created the platform for Belize to continue to showcase its delivery of biodiversity conservation, sustainable livelihoods, and climate resilience “co-benefits” in innovative financial approaches. It also allows Belize to garner the support and interest of partners for its Project Finance for Permanence, which is expected to be ready for signature in early 2025. It is envisioned that this PFP will strengthen the achievements of the Blue Bond and support the national pathway towards a Nature-Positive Economy.

 

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