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(Bloomberg) The collapse of Credit Suisse isn’t just worrying for the global financial system. It s a banking crisis that also has real consequences for the fight against environmental degradation. Before its rescue by Swiss rival UBS, Credit Suisse had quietly become a major player in an obscure market that purports to help developing countries ease their debt burdens in exchange for protecting nature. Known as debt-for-nature swaps, the complex financial instruments help governments restructure their debt to raise money that can be used to fund conservation efforts. Credit Suisse was the sole structurer and arranger of the world’s largest debt-for-nature swap, a $364 million deal that it orchestrated in 2021 along with The Nature Conservancy, a charity, for Belize. Last year, it sealed another $150 million deal for Barbados. The deals were likely a good source of profits for the bank, according to Daniel Munevar, an economic affairs officer at the United Nations Conference on T

United statesNew south walesSouth africaSri lankaRyan straughnSean newmanAntony sguazzinDaniel munevarCredit suisseUs international development finance corpWorld bankAmerican development bankSagicor groupNature conservancyUnited nations conferenceDevelopment finance corp