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Hello friend,
Today, as the world’s bankers get together at the International Monetary Fund and World Bank annual meeting in Morocco, we have a huge opportunity to demand that they cancel the debt for climate justice.
Lower income countries with huge amounts of debt are being forced to fight the climate crisis with one hand tied behind their backs. They're already facing overwhelming repayments on loans – so when floods or hurricanes hit, it’s repaying debt that’s the priority, not saving lives.
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This is a climate emergency, and we need all hands-on deck. Yet governments are spending five times more on debts than they are on tackling the climate crisis and – incredibly - 71% of climate finance, the funds meant to help countries cope with the climate emergency, are being ‘given’ as additional loans.
On top of this, countries are being forced to turn to extracting fossil fuels to pay back debts. The Argentinian government recently committed to a huge fracking project to pay the country’s debts. For the 54 countries facing mountains of debt, there’s no way to tackle the climate crisis without debt cancellation.
You can help expose how powerful lenders are wrecking the climate through debt. Watch and share our video and show them that we won’t stand for this injustice.
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We’ve already seen some big wins when it comes to the climate. After incredible campaigning by activists around the world, the breakthrough last year for a Loss and Damage Fund for countries hit hardest by the climate crisis shows what we can achieve when we stand together.
This week, hundreds of thousands of people will be taking action all around the world, calling for debt cancellation, friend, will you add your voice?
Together we can expose how these powerful lenders are destroying the climate – and show them we won’t stand for it.
In solidarity,
Wiz, Zak, Eva and all at Debt Justice
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