George Monbiot advocates for a bold climate plan that cancels the debts owed by third world countries.
between all nations. It might be hard to imagine such a thing today, with lunatics running things in Brazil, Hungary, Saudi Arabia, North Korea, India, Afghanistan, Turkey, Azerbaijan, Turkmenistan, and Russia — to name just a few.
, in which he recounts the hardship of a coal miner who loads coal all day only to find himself deeper in debt when the sun goes down. Developed by campaigners in some of the world’s most exploited countries, it’s a brilliant idea: simple but systemic. Rich nations owe a massive climate debt to poorer nations: for the devastating impacts of the fossil fuels we have burned. Yet they have no intention of paying for the loss and damage they have caused. Poor countries are deemed to owe massive financial debts to the rich nations, yet they cannot pay them without destroying their economies and their ecosystems.
Campaigners often talk of “odious debts”, which means loans agreed by dictatorships, that provide no benefit to the nation. But all the debts deemed to be owed by poor nations to the rich world and its corporations could be seen this way. The idea that the global south, looted and enslaved for centuries, should owe money to its exploiters is grotesque.
While poorer nations must surrender their wealth, they must also suffer the climate breakdown imposed on them by the rich. An, in The Lancet Planetary Health, suggests that the former G8 nations are responsible for 85% of the CO2 emissions responsible for dangerous levels of heating. Yet the overwhelming majority of the deaths caused by climate breakdown happen in the global south. This represents a massive climate debt that cannot be expressed purely in financial terms.
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