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The Guardian - UK

World

Larry Elliott and Phillip Inman

UNCOVERED: New push for debt relief to help developing world fund climate action - The Untold Story

DfI Matthew Martin COP28

Young boys pull containers of water as they return to their huts from a well in Samburu East, Kenya. — Young boys pull containers of water as they return to their huts from a well in Samburu, Kenya. Photograph: Brian Inganga/AP

The fight against the climate emergency is being hampered by a debt crisis that involves the world’s poorest countries paying more than 12 times as much to their creditors as they are spending on measures to tackle the impact of global heating, a campaign group has warned.

As the Cop28 meeting opened in the United Arab Emirates, Development Finance International (DFI) said a new round of comprehensive and deep debt cancellation was needed to free up much-needed investment in climate emergency adaptation.

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