Beyond Debt Swaps: Scaling Adaptation and Biodiversity Finance

Sovereign debt pressures are rising in many climate-vulnerable countries. Government budgets are tight, biodiversity loss is accelerating, and public funding alone is not enough. The challenge is not whether new financing tools are needed, but how to design them so they work at scale in a changing geopolitical landscape.
In recent years, debt-for-nature swaps and other blended finance approaches have shown that sovereign debt can be linked to conservation and adaptation goals. These efforts provide useful lessons about what makes deals viable and how incentives and accountability systems shape results.
The next phase will likely require mobilizing more private capital, expanding the role of multilateral development banks, and engaging major creditors in constructive debt solutions—while ensuring that biodiversity and adaptation impacts are clearly defined and measured.
This panel brings together leaders in finance, conservation, and development to discuss practical next steps for scaling sovereign biodiversity and adaptation finance and delivering measurable outcomes.
Speakers include:
Tatiana C. Alves, Division Chief, Climate Change Solutions, Inter-American Development Bank
Avril Benchimol, Blended Finance Coordinator, Global Environment Facility
Kevin Bender, Director, Polycentric Capital
Ricardo (Rick) Nogueira, Founder, Tagus Roundtable
Elizabeth Losos (moderator), Nicholas Institute for Energy, Environment & Sustainability, Duke University
This DC Climate Week 2026 event is organized by Duke University’s Nicholas Institute for Energy, Environment & Sustainability and Bass Connections, and is aligned with the Duke Climate Commitment.
Questions about this event? Contact Elizabeth Losos, [email protected].
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DC Climate Week is not responsible for this event. It is organized by the organizing group, and being listed on the DCCW calendar is not an endorsement of content or partners.

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