What is it about?
Slow progress in scaling-up climate finance has emerged as a major bottleneck in international negotiations. Debt relief for climate finance swaps could provide an alternative source for financing mitigation and adaptation action in developing countries.
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Why is it important?
Developed countries have been urged to mobilize additional finance from a variety of options, including alternative sources. We have proposed one alternative source: the relief of debt servicing on long-term bilateral debt owed by developing countries to developed countries.
Perspectives
It does provide an interesting alternative for developed countries to meet their climate finance obligations. It is surprising that this option has not been explored in international negotiations.
Dr Stavros Afionis
Cardiff University
Read the Original
This page is a summary of: Debt relief and financing climate change action, Nature Climate Change, July 2014, Springer Science + Business Media,
DOI: 10.1038/nclimate2303.
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