Title
Chapter Title: From ‘distressed debt’ to ‘PPA’: the story of Karukinka
Book Title: The Futures of Privately Protected Areas
Author(s)
Saavedra, B.
Published
2014
Abstract
In 2002 the financial company Goldman Sachs bought a package of distressed debt – collateral that had been forfeited when a loan went unpaid. Part of one of these packages was a parcel of land in southern Chile on the island of Tierra del Fuego. The area was slated to be inside a large logging operation by the Trillium forestry company. Goldman Sachs decided to keep the property undeveloped and to donate it to the US conservation NGO the Wildlife Conservation Society (WCS) to become a PPA. The resulting donation became one of the most significant donations of private land for conservation to date in the world and the largest in Chile.

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PUB15330