Climate debt news
Climate loan sharks - making developing countries pay twice for climate change
The UK is making developing countries pay twice for climate change.
Our new report, Climate loan sharks, reveals that the UK and other rich countries are forcing poor and debt burdened countries to accept loans from the World Bank to deal with the devastating effects of climate change. This is despite the fact that rich industrialised countries are overwhelmingly responsible for the climate crisis. Around 70 per cent of all carbon emissions have been made by these rich countries in the north. Meanwhile, 80 per cent of climate change damage will be felt in the global south.
This is like burning down your neighbours' house and pressuring them to take out a loan from you to rebuild it.
Read the report
The report shows how the World Bank's climate fund, which the UK is giving money to, is fundamentally flawed and serves only the interests of rich countries.
Read the report
The report explained
Don't have time to read the report? This easy to follow presentation explains the key elements of the UK's disastrous approach to climate finance.
Read more
Civil society says no to climate loans
Civil society organisations in countries receiving the loans from the World Bank are saying a firm 'no' to climate loans via the World Bank.
Read their statement
Take action
Please write to the UK energy and climate change minister, Chris Huhne, telling him to stick to his pre-election promise of not forcing climate loans on poor countries.
Take action now
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