2. Ecuador frees cash for Galapagos conservation with $1.6 bln bond buyback
Credit Suisse has bought up $1.6 billion worth of Ecuador’s bonds, freeing up cash for conservation of the country’s unique Galapagos Islands in what is set to be the biggest debt-for-nature swap ever struck.
3. India’s cost of adapting to climate change needs seen at $1 trillion by 2030, report says
India will spend an estimated 85.6 trillion rupees ($1.05 trillion) by 2030 to adapt its various industries to be compliant with climate change norms, a report by the country’s central bank said. Estimates suggest that green financing requirements in India could be at least 2.5% of GDP annually to address the infrastructure gap caused by climate events.
4. Climate shocks could push 3 million Brazilians into extreme poverty, says World Bank
Climate shocks could push millions of Brazilians into extreme poverty by 2030, a report by the World Bank said, urging the country to accelerate investments towards renewable energy sources. Brazil can source more renewable energy as almost half of its energy supply, including over 80% of its electricity, already comes from renewables, the report said.
5. Water fight: Farms, wildlife at risk as Spanish wetland shrinks
Spain’s Donana wetland has been a rich farming area for decades and a wildlife haven for centuries, but climate change is drying it out and has set regional and national authorities on a collision course over how to safeguard its future.
