#REPOST | Prospect Magazine | Climate and Debt Crisis

Published on : 21.06.24

By: Ishac Diwan,  Dani Rodrik,

The climate and debt crises must be solved together

The world needs to connect green investments, loan relief and growth

Published in Prospect Magazine on 10th June 2024

The rich world bears responsibility for much of the carbon dioxide in our atmosphere. The average person living in a high-income country today emits twice as much CO2 as someone resident in a middle-income country, and at least 30 times more than a person living in a low-income country. On current estimates, however, developing countries (excluding China) could account for more than 50 per cent of global greenhouse gas emissions by 2030. It’s clear that limiting global warming to no more than 1.5°C, as stipulated by the Paris Agreement on the climate, cannot be done without all countries, rich and poor, playing their part.