Belize Touts Debt-restructuring for Marine Conservation

Prime Minister John Briceño

Homing in on Belize’s efforts, P.M. Briceño spoke about the country’s debt-restructuring for marine conservation initiative which is touted as the largest undertaking of its kind in the world.

Prime Minister John Briceño

“So, amidst a climate crisis, we are on track to blow up our global carbon budget and trigger even more catastrophic levels of climate events.  Simply put, we are about to ignite the carbon bomb.  In Belize, we are doing our part to protect the ocean and I am proud to lead a government that is advancing innovative and ambitious policies to ensure that current and future generations can benefit from its resources.  Belize’s is also delivering through the world’s largest debt-restructuring for marine conservation which we announced in partnership with the Nature Conservancy in November 2021. Consequently, like most small, developing states, the realization of these global targets has been constrained by the lack of financing.  Despite global commitments for climate financing and conservation, only a fraction has been made available to the small island developing states, yet billions will be spent on projects directly undermining our target of two degrees.  Since November, my government has delivered on our first two commitments, including the expansion of our marine protected areas and the designation of all public lands within the Belize Barrier Reef Reserve System World Heritage Site as mangrove reserves.”