A novel idea to leave the country’s vast oil reserves in the ground fizzled for lack of international support. Now, struggling under painful debt, the government wants to expand drilling in the rainforest.
Developing nations are reducing their debt by pledging to protect their resources in financial deals that could give them a bigger role in the fight against climate change.
Twenty countries most vulnerable to climate change are considering halting their repayment of $685 billion in collective debt, loans that they say are an “injustice,” Mohamad Nasheed, the former president of the Maldives, says.
The Caribbean is trapped between crushing debt and a climate disaster caused by rich nations. Prime Minister Mia Mottley is battling for a fairer system.
With dozens of countries struggling to manage both staggering debt and mounting climate disasters, some financial leaders are calling for green debt relief.
With dozens of countries struggling to manage both staggering debt and mounting climate disasters, some financial leaders are debating green debt relief.
