Quito, 19 october 2024

In a joint effort by LATINDADD (Latin American Network for Economic and Social Justice) and CDES (Center for Economic and Social Rights), the first draft of the «High-Integrity Principles for Debt Swaps» is presented as part of ongoing efforts to promote climate and fiscal justice. This draft encourages global collaboration to develop and implement debt swaps that uphold high standards of transparency, accountability, and inclusivity.

The global community—including governments, multilateral institutions, private actors, and civil society organizations—is invited to actively participate in shaping and refining these principles. The document emphasizes the importance of transparency in negotiations, democratic participation, and independent auditing to ensure a fair distribution of benefits, especially for the most vulnerable communities.

Key Takeaways:

• Transparency and Accountability: Ensure open and timely access to information from negotiations through project implementation.
• Inclusive Governance: Actively involve local communities in decision-making and ensure equitable benefit sharing.
• Environmental and Social Safeguards: Embed safeguards to protect human rights and environmental integrity.
• Global Collaboration: A coordinated effort is essential to mobilize resources, develop metrics, and create systemic change in debt swap structures.

Next Steps for Engagement:

1. LATINDADD and CDES invite all interested parties to participate in public dialogues at international forums, such as COP29 and the Conference of the Parties on Biodiversity.

2. Contributions and feedback are encouraged and should be submitted by December 10 via cdes@cdes.org.ec or latindadd@latindadd.org

3. A revised version of the draft will be produced based on the input received, ensuring the effectiveness and integrity of future debt swaps.

Join Us in This Collective Effort to Foster High-Integrity Debt Swaps!

Access the text