Climate Action in Times of Debt Distress

The Special Session ‘Climate Action in Times of Debt Distress’ at the Third Annual Conference of the Global Research Alliance for Sustainable Finance and Investment, examined the options for debt rescheduling that will allow for people centred investments that address climate change and inequality by leaving fossil fuels in the ground. Several co-chairs of the initiative presented insights into the issue.


The Need for Debt-for-Climate Swaps

Op-Ed by Shamshad Akhtar, Kevin P. Gallagher, Stephany Griffith-Jones, Jörg Haas, Ulrich Volz

With developing countries facing a debt crisis that will only get worse as the COVID-19 pandemic continues, it is already inevitable that massive debt relief will be necessary. The only question is whether it will be designed to address the even larger climate crisis that is approaching.