CSOs discussion on climate and debt
Eurodad held a CSOs discussion on debt & climate dynamics. It focussed on issue development to better understand the nexus of debt and climate, and identify opportunities for joint action in the following months.
What issues should be addressed, when it comes to fight debt and climate crisis jointly? See participants' answers here.
The impacts and context of the COVID-19 crisis, coupled with ongoing climate impacts and crippling debt that vulnerable countries face, has brought debt further into the climate policy space and vice-versa.
“Limited to no-capacity to tackle climate change in a fiscally responsible and sustainable manner creates a continuous cycle of i) climate-impacts induced debt, which leads to ii) debt-induced climate vulnerabilities, and repeats. It is crucial to ensure that debt and climate finance dynamics don’t continue to conflate each other” (Eurodad, 2021).