Debt Justice For Climate Reparations
The world faces twin debt crises. On the one hand, a well-publicized financial debt crisis looms for countries across the Global South, limiting governments’ ability to take public health action, alleviate poverty, adapt to a warming world, or pursue ambitious low-carbon development. Policy makers in the rich world seldom discuss the other debt crisis: the ecological and economic debts the Global North owes for historical and ongoing plunder, extraction, and climate pollution threatening lives and livelihoods in the Global South—all of which are key components driving the financial debt crisis. These intertwined crises require urgent action beyond the paltry steps taken since the start of the pandemic.