Debt And Climate: Empowering Debt for Climate Swaps to Finance the Green Transition in Africa

Malancha Chakrabarty, Karim El Aynaoui, Youssef El Jai, Badr Mandri and Manish K Shrivastava

No 2425, Policy briefs on Economic Trends and Policies from Policy Center for the New South

Abstract: This paper was originally published on t20brasil.org In a global context marked by unprecedented economic and environmental challenges, Africa stands at a crossroads. The rapid rise in public debt, coupled with the climate emergency, imposes a dual constraint on the continent's countries, severely limiting their ability to pursue sustainable development and mitigate the effects of climate change. This critical situation calls for innovative and effective solutions capable of transforming obstacles into opportunities for a more resilient and prosperous future. In the face of this reality, it is imperative to rethink traditional financing mechanisms and explore innovative approaches that promote both debt relief and climate action. In this context, Debt-for-Green Swaps are emerging as a promising strategy, offering a viable path to reduce financial vulnerability while accelerating investments in environmental sustainability.

Date: 2024-09
New Economics Papers: this item is included in nep-ene and nep-env
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Working Paper: Debt And Climate: Empowering Debt for Climate Swaps to Finance the Green Transition in Africa (2024)
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