What are we calling for?
The Global North can make payments on this climate debt by funding climate adaptation and mitigation in the Global South and by contributing to the Loss and Damages fund. The cancellation of unsustainable debts is another way of freeing up money so countries badly impacted by climate change can invest in climate adaptations and mitigation. If the Global North cancelled debt payments to low and lower-middle income countries, it could free up approximately $109 billion for climate action globally (Canada’s Fair Share Platform).”
— Sue Wilson, CSJ
Solutions from the Forum: Advancing ORCIE’s Fall Advocacy
Participants at the Forum went beyond critique to present clear, actionable solutions—many of which will shape ORCIE’s upcoming advocacy with the federal government. These proposals include:
- Cancelling unjust and unsustainable debt without conditions;
- Supporting the creation of a UN Global Debt Framework for transparent and fair resolution;
- Tripling Canada’s climate finance pledge to $15.9 billion/year, with a focus on grants over loans;
- Enacting windfall taxes on oil and gas companies instead of continuing public subsidies;
- Reforming trade rules to protect human rights, land, and ecosystems over corporate profit.
Read Sue’s full analysis here: Connecting the Dots: Jubilee People’s Forum and The Debt Cancellation Campaign | Sue Wilson