The Debt and Climate Link

The 4th Financing for Development (FfD4) Conference in Seville, Spain has commenced, and developing nations are clear: the climate crisis cannot be solved without solving the debt crisis. Climate finance flowing to the Global South is still far from the levels needed. Several countries facing elevated impacts of climate change are spending more on debt service than on health or education. The debt-climate trap is real: many climatevulnerable countries are either already in debt distress or at high risk of it.

Yet, the FfD4’s outcome text -- to be formally adopted in Seville – has watered down developing country demands for a permanent UN-led sovereign debt mechanism. Without real reform of global financial frameworks -- including on debt -- the climate goals for the Global South are likely to remain out of reach.

Sehr Raheja and Avantika Goswami from Centre for Science and Environment are in Seville – join this Live Chat to get a quick briefing on what’s cooking in Seville.

FOR MORE DETAILS, CONTACT

Sukanya Nair
8816818864
sukanya.nair@cseindia.org