Formal and informal financial transfers between countries that are targeted for sustainable development or conservation - Remittances are defined as “a sum of money sent in payment or as a gift.” (Lexico, accessed January 10th, 2020). One example of the potential impact of remittances for conservation an example in El Salvador, where remittances were found to have positive benefits for reforestation.
Remittances
Private transfers from a migrant worker (i.e. living in a foreign country for one year or longer) to a receiver (often but not limited to family) in his/her country of origin. When remittances are not used to respond to immediate consumption needs, they can be saved and invested at the benefit of the local economy/ community/ environment of the worker’s country of origin. Diaspora bonds, saving products and investments are all available instruments to channel resources towards conservation and other sustainable development investments.