Leonardo DiCaprio’s foundation helped protect 410,000 sq km of Seychelles ocean
The Leonardo DiCaprio Foundation helped fund a debt-for-nature swap in the Seychelles, allowing the island nation to protect 410,000 square kilometers of ocean. This initiative converted foreign debt into conservation funding, balancing economic needs like fishing and tourism with marine biodiversity protection.
Why it matters
This model demonstrates a scalable financial mechanism for developing nations to address climate change and environmental preservation while managing sovereign debt.
Leonardo DiCaprio Foundation was among the private funders that backed a deal helping Seychelles use debt financing for ocean conservation. The deal helped the island nation increase the area of its ocean under protection from just 0.04% of its Exclusive Economic Zone to 30% by 2020.The arrangement worked by converting foreign debt into money for long-term conservation in Seychelles, according to The Nature Conservancy. As part of the deal, $21.6 million in foreign debt was paid in exchange for funding for conservation work inside the country. Seychelles also agreed to create a marine spatial plan to decide how its ocean would be protected and used.The result was a much larger protected area. By 2020, Seychelles had finalised Marine Protection Areas covering 410,000 square kilometres of ocean.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in