As debt distress and climate vulnerability collide, countries have begun using forests, reefs, and carbon sinks as bargaining tools in sovereign finance using nouveau financial instruments like debt-for-nature swaps. Whilst debt-for-nature swaps are not a cure for sovereign-indebtedness in sovereign finance, but rather a sign of incessant fiscal stress, it is a tool for alleviating this stress. This is geopolitically relevant because whilst it empowers countries to bargain for favorable terms of