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Inaction on COP26 climate finance day leaves climate vulnerable countries facing mounting debt

In response to the pledges and discussion on the theme of finance at COP26 today, Heidi Chow, Executive Director of Jubilee Debt Campaign said:

“Today’s discussions and pledges on climate finance at COP26 have not delivered the outcomes that are urgently needed for lower-income countries. It is disgraceful that wealthy nations have failed to deliver the $100 billion in climate finance they promised, which was already woefully short of the trillions required. To add insult to injury, most of the finance that has been given comes in the form of loans, fuelling further indebtedness and forcing countries in the global South pay for a climate crisis they did not create. Rich countries have once again ducked their responsibilities on climate by refusing to pay their fair share of climate finance to lower-income countries.”

Notes:

The Jubilee Debt Campaign is a UK charity working to end poverty caused by unjust debt through education, research and campaigning: http://www.jubileedebt.org.uk

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