To preserve Amazon, indigenous groups call for debt forgiveness
Indigenous groups from across the Amazon basin called on Monday for financial institutions to forgive the sovereign debts of the South American nations that comprise the Amazon rainforest, in exchange for commitments to preserve the environment.
The Amazon is the world's largest rainforest and its health is considered key to avoiding the most catastrophic impacts of climate change.
The call comes from a report published this weekled by the Coica, an organization of indigenous groups who live in the Amazon across nine different countries.
"The quid pro quo is to forgive existing debt in exchange for commitments to end industrial extraction and promote protections in key priority areas, indigenous territories and protected areas," according to the report.
By linking the government's debt obligations with international climate goals related to the Amazon rainforest, Coica's initiative puts preservation at the forefront of debt renegotiation.
Coica aims to preserve 80% of the Amazon by 2025, a goal it describes as still possible despite soaring levels of deforestation in recent years. Read More...
