The countries of the Global South have contributed little to climate change. But they are particularly vulnerable to its impacts. Now, as a result of COVID-19, debt levels in the Global South have skyrocketed. As a consequence, a triple crisis of health, climate change and lost development is looming. How can highly indebted developing countries respond to these challenges?
A new proposal lays out a blueprint for comprehensive debt relief that would free up significant resources for countries to mount green and inclusive recoveries and achieve their climate and development goals. Here’s how it would work.