L&G to invest $1bn in EM debt for nature swaps

Legal & General is to invest $1 ⁠billion in 'debt for nature' swaps in emerging markets, designed to reduce interest payments and support conservation in developing countries. The move will double L&G's investment in nature conservation and sustainable development in emerging markets with the funds uses including debt-for-education or debt-for-food swaps.

Jake Harper, senior investment manager at L&G, said the decision, "will give us the ability to be the cornerstone investor, or hopefully in some circumstances, solely fund the transactions. What we're trying to solve is how to make these transactions quicker, and that is what hopefully this ‌will achieve!.

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