USING DEBT FOR ADAPTATION SWAPS TO SUPPORT THE RECONSTRUCTION OF UKRAINE
DOI:
https://doi.org/10.37659/2663-5070-2023-10-37-43Keywords:
Russian invasion, environmental damage, environmental restoration, valuation, compensation, compensation claimsAbstract
The article sets out a conceptual framework for how Debt for Adaptation Swaps may be used to help accomplish several complementary goals in support of the long-term reconstruction of Ukraine. Debt for Adaptation Swaps could improve short-term liquidity for mitigating the most threatening environmental damage to Ukraine as a result of the Russian invasion, while contributing to Ukraine’s long-term environmental restoration and economic reconstruction. It examines the potential for linking Debt for Adaptation Swaps to international, compulsory financial compensation claims against the Russian State, as well as internationally sanctioned Russian legal entities or private persons, to secure the long-term funding necessary to fully restore natural capital and reconstruct physical capital. It includes a discussion of the application of international standards of valuation to environmental or economic assets for the purpose of seeking financial compensation.
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