As world leaders prepare for the UN Climate Change Conference (COP 28) beginning in the United Arab Emirates this week, new ideas may help advance solutions to the globes most challenging climate-related finance problems.
A Twin Challenge
The problem of debt sustainability of developing countries has coincided with a need to finance climate mitigation and adaptation in these countries. The challenge of debt sustainability has intensified calls for debt relief from private finance institutions, while at the same time, those institutions are being urged to scale up climate-related financing, including in developing countries. A simultaneous solution to this twin challenge seems unworkable, no matter how hard governments of rich countries, …
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