Environmental Justice through Gender-Sensitive Debt-for-Nature Swaps in the Caribbean: An SDG Policy Perspective

In an era of climate crises and debt burdens, debt-for-nature swaps offer debt relief in exchange for environmental conservation, holding promise for Caribbean small island developing states (SIDS) facing high debt-to-GDP ratios and vulnerabilities like hurricanes and biodiversity loss. This paper examines the intersection of swaps with environmental justice (EJ) and gender dynamics, arguing that gender-sensitive design is crucial for equitable resilience. Drawing on Schlosberg's EJ framework and gender-sensitive disaster risk financing strategies from the Caribbean Development Bank, the analysis highlights women's disproportionate vulnerabilities in resource-dependent livelihoods, amplified by intersecting factors like poverty and indigeneity. Through a case study of the 2021 Belize Blue Bond, which restructured USD 553 million in debt to fund marine conservation, the paper evaluates mechanisms, challenges (e.g., opaque negotiations, limited gender integration), and opportunities for embedding equity. Findings reveal that while the swap expanded marine protected areas and supported livelihoods, gender-blind metrics risk perpetuating inequities. Policy recommendations include incorporating sex-disaggregated data, participatory processes with women-led groups, and alignment with SDGs 5 and 13. This framework advances just transitions, transforming swaps into tools for systemic justice in debt-constrained, biodiversity-rich regions.