Experts call for debt restructuring and new financial instruments to tackle climate change and nature loss in ‘critical decade of action’
A new expert report commissioned by the governments of Colombia, Kenya, France and Germany urges the international community to tackle the ‘vicious circle’ of rising debt burdens, climate change and nature loss. The Expert Review on Debt, Nature and Climate shows how climate change and nature risks are worsening the growth and debt prospects of many emerging market and developing countries (EMDCs) at the same time as rising debt service burdens are reducing their ability to tackle such risks. The report aims to support countries make their debt more sustainable to finance much-needed climate a…