{"id":24541,"date":"2018-02-25T22:50:07","date_gmt":"2018-02-25T21:50:07","guid":{"rendered":"https:\/\/travindy.com\/?p=24541"},"modified":"2022-09-05T10:28:12","modified_gmt":"2022-09-05T09:28:12","slug":"seychelles-creates-groundbreaking-marine-reserve-help-leonardo-dicaprio","status":"publish","type":"post","link":"https:\/\/travindy.com\/news\/2018\/02\/seychelles-creates-groundbreaking-marine-reserve-help-leonardo-dicaprio\/","title":{"rendered":"Seychelles Creates Groundbreaking Marine Reserve With Help From Leonardo DiCaprio"},"content":{"rendered":"<p><iframe title=\"Building Island Resilience Through Innovative Financing and Biodiversity Solutions\" src=\"https:\/\/player.vimeo.com\/video\/148220083?h=55df20ed60&amp;dnt=1&amp;app_id=122963\" width=\"696\" height=\"392\" frameborder=\"0\" allow=\"autoplay; fullscreen; picture-in-picture\" allowfullscreen><\/iframe><\/p>\n<p><span class=\"wpsdc-drop-cap\">T<\/span>he first ever climate adaptation debt restructuring\u00a0that also includes a strong marine conservation component has been\u00a0<a href=\"http:\/\/www.nature.org\/newsfeatures\/pressreleases\/achieving-climate-adaptation-through-innovative-debt-restructuring.xml\" rel=\"nofollow\">finalized\u00a0<\/a>between the Government of Seychelles and its\u00a0<a href=\"http:\/\/www.clubdeparis.org\/en\/\">Paris Club<\/a>\u00a0creditors. The agreement introduces impact investing to debt restructuring\u00a0and provides proof of concept for other Small Islands Developing States (SIDS)\u2013<span class=\"s1\">or more accurately\u00a0<\/span><span class=\"s2\">Large Ocean Developing States (LODS)\u2013\u00a0<\/span>to replicate.<\/p>\n<p>The deal is supported by\u00a0<a href=\"http:\/\/www.nature.org\/ourinitiatives\/regions\/africa\/wherewework\/seychelles.xml\" rel=\"nofollow\">The Nature Conservancy<\/a>\u00a0through its NatureVest division\u00a0and Africa program and was negotiated in the Paris Club with support from the French Government. The restructuring\u00a0will provide funding to support adaptation to climate change through improved management of coasts, coral reefs and mangroves.<\/p>\n<p>The financing will promote implementation of a Marine Spatial Plan for the entire Seychelles Exclusive Economic Zone, a territory approximately 3,000 times the size of their land mass. The deal will also ensure approximately 400,000 km2\/98.9 million acres (an area larger than the size of Germany) will be managed for conservation as marine protected areas (MPAs) within five years.<\/p>\n<p>The debt restructuring\u00a0uses a combination of investment capital and grants to protect and reduce the vulnerability of the marine and coastal ecosystems of the Seychelles. It also provides Seychelles with an innovative financial tool to restructure its debt and allow its national government to free capital streams and direct them toward\u00a0climate change adaptation and marine conservation activities that\u00a0benefit their fisheries and tourism industries, and ultimately the livelihoods of their citizens<\/p>\n<h5><strong>An Island Nation with Important Natural Assets\u00a0<\/strong><\/h5>\n<p>The low-lying geography of\u00a0<strong>Seychelles, a nation of 115 islands in the Western Indian Ocean<\/strong>, makes its people and economy particularly vulnerable to the impacts of climate change. Increased storm frequency, rising sea levels and coral bleaching from warm ocean temperatures threatens the vital pillars of Seychelles\u2019 economy: tourism and tuna fisheries.<\/p>\n<h5><strong>A Path Toward Replicability<\/strong><\/h5>\n<p>This combination of public and private funds\u2014each leveraging the other\u2014creates a new model for public\/private co-investment debt restructuring\u00a0in other areas of the world, notably other LODS.<\/p>\n<p>The model is already attracting interest from a number of other countries and international institutions that are interested in pursuing a similar approach to financing their own marine conservation and climate adaptation.<\/p>\n<h5><strong>Innovation for Impact<\/strong><\/h5>\n<p>At its most basic, this\u00a0<a href=\"https:\/\/prezi.com\/iittvb4gxoso\/seychelles-debt-swap-for-marine-conservation-and-climate-adaptation\/\">debt restructuring<\/a>\u00a0converts a portion of Seychelles\u2019 debt to other countries into more manageable debt held by a local entity; this is accomplished by refinancing it with a mix of investment and grants.<\/p>\n<p>The Nature Conservancy raised $15.2 million in impact capital loans and $5 million in grants to buy-back $21.6 million of Seychelles debt. The cash flow from the restructured debt is payable to and managed by an independent, nationally based, public-private trust fund called the Seychelles Conservation and Climate Adaptation Trust (SeyCCAT).<\/p>\n<p>Debt service payments fund three distinct streams: one for work on the ground that will help reduce risk through improved management of coasts, coral reefs, and mangroves, another to\u00a0repay investors and a third to capitalize SeyCCAT\u2019s endowment, which can then support conservation work into the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Scheme provides Seychelles with innovative financial tools to restructure its debt and support climate change adaptation and marine conservation activities that\u00a0benefit their fisheries and tourism industries, and ultimately the livelihoods of their citizens.<\/p>\n","protected":false},"author":5,"featured_media":24542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1871,139,16,130,287,534,14,267],"tags":[2545],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seychelles Creates Groundbreaking Marine Reserve With Help From Leonardo DiCaprio<\/title>\n<meta name=\"description\" content=\"Scheme provides Seychelles with innovative financial tools to restructure its debt and support climate change adaptation and marine conservation activities that\u00a0benefit their fisheries and tourism industries, and ultimately the livelihoods of their citizens.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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