WCS is a member of the coalition, Debt for Nature, which pioneered Bonds for Ocean Conservation
WASHINGTON D.C, USA, 4 October 2025 – Bonds for Ocean Conservation, pioneered by the Debt for Nature Coalition – a group of six global environmental organisations – is today revealed as a 2025 Finalist in the world’s most prestigious and impactful environmental award, The Earthshot Prize. Coalition members include Conservation International, The Nature Conservancy, The Pew Charitable Trusts, Re:wild, Wildlife Conservation Society, and World Wildlife Fund in the US.
Founded by HRH Prince William in 2020, The Earthshot Prize recognises solutions from different geographies, sectors, and stages in their life cycle, and is dedicated to solving our planet’s greatest challenges. The Prize in 2025 marks the halfway point in the Earthshot decade, as the mission gathers pace in this next critical juncture.
Oceans are essential to all life on our planet, including human life. Despite oceans covering two-thirds of the Earth, funding to protect them remains critically low. Many of the world’s richest marine ecosystems are located in countries burdened by significant debt, making it difficult for them to afford their protection despite being among the most vulnerable to climate change.
Bonds for Ocean Conservation scales conservation outcomes through sovereign debt conversions; a financial solution that allows countries to refinance expensive debt and replace it with more favourable terms, unlocking significant cost savings and channelling vital resources into protecting people and our planet.
Coalition members have already deployed this innovative finance solution in partnership with six sovereign nations to date, with an emblematic example in the Galápagos Islands. Ecuador’s Galápagos debt conversion, supported by Pew Bertarelli Ocean Legacy and other partners saved the government more than $1 billion and unlocked more than $450 million for marine conservation. As a result, Ecuador made new commitments to improve the sustainability of its fisheries and create the 6-million-hectare Hermandad Marine Reserve, which is home to sea turtles, dolphins, and sharks, and other endangered marine life. Marine protected areas like this generate a ripple effect of healthy biodiversity, which supports fishing stocks, that provide livelihoods and vital food sources across the world.
To date, members of the Coalition have unlocked more than $1.4 billion in funding that supports the conservation of nearly 3 million square kilometres of nature’s finest, and most vulnerable, ecosystems. Debt conversion projects have been successfully deployed by the Coalition in Seychelles (2016), Belize (2021), Barbados (2022), Gabon (2023), the Galápagos (2023), The Bahamas (2024) and Ecuadorian Amazon (2024). In the next five years, by 2030, the Debt for Nature Coalition aims to double current figures, unlocking more than $3 billion in funding for conservation and climate action across the globe.
It is this leadership, progress and future potential that impressed The Earthshot Prize during the selection process in the search for outstanding candidates for the 2025 Prize.
Prince William, Founder and President of The Earthshot Prize said: “As we reach the halfway point of the Earthshot decade, I am truly inspired by this year’s Finalists, which embody the urgent optimism sitting right at the heart of our mission. In just five years, The Earthshot Prize has shown that the answers to our planet’s greatest challenges not only already exist, but that they are firmly within our grasp.”
Tom Dillon, senior vice president of environment and cross-cutting initiatives at The Pew Charitable Trusts, a member of the Debt for Nature Coalition, said: “The Galápagos debt conversion exemplifies how financial innovation can drive conservation. Ecuador not only secured significant savings but also created a lasting funding stream to protect one of the world’s most biodiverse marine ecosystems. By collaborating across organisations and sharing our collective expertise, the Coalition is setting a high bar for quality and ambition in future deals.”
Jennifer Morris, CEO of The Nature Conservancy, a member of the Debt for Nature Coalition, said: “The world’s biodiversity and climate crises are compounded by the global debt crisis. The ‘Nature Bonds’ debt conversion model is a proven, scalable solution which uniquely addresses all three. We are exceedingly proud of the innovative debt conversion work we have supported in six different sovereign nations, and yet recognize that our planet needs more and faster. The radical collaboration, scalability and transparency made possible through the Debt for Nature Coalition are exactly the type of ambition required in this moment for our planet and for future generations.”
Adam Tomasek, executive director for the Debt for Nature Coalition, said: “No single institution can solve the interconnected crises of nature loss, livelihood insecurity and sovereign debt stress on their own. The Debt for Nature Coalition is built on the belief that collaboration can unlock solutions greater than the sum of their parts—transforming fragility into resilience, crisis into opportunity and debt burdens into engines for nature conservation. Through collective action, we're helping to solve the planet’s greatest challenges by supporting a new economic architecture for a thriving, sustainable future.”
The new Finalists join a community of 60 Finalists who are making significant progress in protecting and restoring our natural world. This includes progress by:
This year’s cohort were selected from nearly 2,500 nominees submitted by the Prize’s network of 575 nominators from 72 countries. The 15 Finalists were chosen based on assessments done by The Earthshot Prize’s selection partners and Expert Advisory Panel, a global group of more than 100 subject-matter experts with deep backgrounds in conservation, science, technology, business, finance, academia and policy.
As in previous years, the five Winners of this year’s Prize will be selected by HRH Prince William and fellow members of the prestigious Earthshot Prize Council, a diverse group of individuals dedicated to protecting the climate and our natural environment. The Earthshot Prize Council is chaired by The Earthshot Prize Board of Trustees Chair, Dame Christiana Figueres, architect of the Paris Climate Accord.
Members of The Earthshot Prize Council are Prince William, Her Majesty Queen Rania Al Abdullah, Cate Blanchett, Indra Nooyi, José Andrés, Wanjira Mathai, Nemonte Nenquimo, Luisa Neubauer, Naoko Yamazaki, Ernest Gibson, and Dr. Ngozi Okonjo-Iweala.
Solutions selected align to the five ‘Earthshots’ – simple, ambitious and aspirational goals but more relevant than ever before.
To find out more about this year’s Finalists, please visit the website.
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