A tale of two emergencies - webinar
March 05, 2021
The climate emergency has become a wider focus of policy discussions around debt, as climate vulnerabilities increase the risk of debt crises in countries in the global south. Similarly, unsustainable debt levels can mean less fiscal space and opportunities to face the challenges of adaptation and mitigation, as well as to recover from loss and damage after a climate disaster.
Eurodad’s latest report focuses on how sovereign debt dynamics interact with climate finance and climate emergency impacts in the global south and vice-versa. The briefing, available in English, French, Spanish and Portuguese, looks at how climate crises exacerbate debt vulnerabilities but also how existing debt vulnerabilities weaken countries’ capacity to deal with the climate emergency. It also specifically looks at the cumulative impacts of climate and debt crises on women’s rights and gender justice. Finally, the briefing analyses the shortcomings of some of the current climate finance approaches and mechanisms in relation to the risks they pose to climate resilience and debt sustainability. The briefing also outlines some policy recommendations that could help countries in the global south deal with the interconnected impacts of sovereign debt and climate crises in a more fair and sustainable way.
Some useful resources that were shared during the webinar include:
- The report, available in English, French, Portuguese and Spanish
- Article: "Debt and climate: entangled emergencies derailing women’s rights and gender justice". The article explores the cumulative impacts on women of debt and austerity dynamics on one side, and climate crisis on the other. Also it proposes responses to the economic, social, and environmental crisis we are living, that address both debt and climate risks in a comprehensive, systemic, and feminist approach.
- ActionAid's report "Market solutions to help climate victims fail human rights test". The report examines the current options for market, state and ‘innovative’ funding mechanisms available to cover the soaring costs of loss and damage related to rising global temperatures, reviewing their effectiveness against key human rights principles.
- Article on the ACT-Alliance EU report, "Climate finance: what about international solidarity?"
- Report that Jubileo Sur/Americas has conducted in the Latin American and Caribbean region: "Endeudamiento, historia de luchas y propuestas alternativas en países de América Latina y el Caribe". Available in Spanish and Portuguese.
- Statement calling for a debt moratorium for Central America, shared by Latindadd.
- The recording of the previous webinar "A debt moratorium – but for whom?" has been uploaded on Eurodad's Youtube channel. In the webinar, Erlassejahr's report and its conclusions are presented and discussed, with views from affected regions, namely Central America and the Carribean.
Download the PPT presentation:
If you wish to receive more information, please contact Iolanda Fresnillo at [email protected]
