In September and early October 2025, Fernando Bretos traveled to Chile to participate in the annual RedLAC Conference — a major regional gathering that brings together environmental funds, public agencies, and nonprofit partners advancing conservation finance in Latin America and the Caribbean. Held in Santiago and Frutillar, at the gateway to Patagonia, the event offered an ideal setting for Fernando to move forward with his CFA Incubator project: supporting the Government of Cuba in establishing its national conservation trust fund (NCTF) and laying the groundwork for a future debt conversion for nature.

Last year, American Bird Conservancy(ABC) took a major step toward transforming how biodiversity is measured, valued, and financed. As part of the Conservation Finance Alliance (CFA) Incubator Program (round 3), ABC’s BirdsPlus team, Eliot Miller, Corey Martignetti, Holly Robertson, and Andrés Anchondo, have been developing innovative monitoring strategies that use birds as indicators of ecosystem integrity and nature-positive impact in conservation finance and value chains.

Melissa Carmody, alongside Cristobal Arredondo, from the Wildlife Conservation Society, Chile, is leading the project, The Karukina Impact Bond,  through the CFA Incubator. The Karukinka Impact Bond is an innovative model to secure long-term financing to address the risk of wildfire and invasive species in Karukinka Natural Park, a globally significant 300,000-hectare reserve of old-growth forests and peatlands in Tierra del Fuego, Chile.