Wall Street Bankers Doing ESG Debt Swaps Get New Deals Pipeline

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An emerging ESG debt market that’s been embraced by bankers at JPMorgan Chase & Co. and Bank of America Corp. is about to see its pipeline get a meaningful boost, thanks to an agreement struck in Colombia.

The market for so-called debt-for-nature swaps is set to benefit from a plan by six nonprofits to construct a shared pipeline of deals that will be shaped by common standards. The accord was announced on Tuesday at the United Nations biennial biodiversity summit, COP16, and signed by groups including The Nature Conservancy, Conservation International and WWF. They say such swaps could unlock up to $100 billion in climate and nature finance.