The debt handcuffs

Many countries have debt repayments that far outweigh the money spent on positive climate action. Sovereign debt for many developing countries is held by China’s state institutions and private investors in the West (eg Blackrock, HSBC, Goldman Sachs), but this has slipped off the international climate agenda.

Investor action and international attention in a similar fashion to the 2000 Jubilee debt/poverty campaigns would help highlight this, focusing on debt for climate and nature swaps, and debt for loss and damage swaps.

Economic change
Environmental change
Jon Sharman
, 17 July 2023

How stuck is this handbrake?