Think Change episode 75: can the debt, nature and climate crises be solved together? Insights from the Expert Review

ODI | Think Change

Climate disasters are intensifying globally, with vulnerable nations facing disproportionate impacts despite minimal contributions to global emissions. From prolonged droughts in East Africa to intensifying cyclones in the Pacific, these events reveal a troubling paradox:

As the Expert Review on Debt, Nature and Climate demonstrates, countries must borrow to recover from disasters, yet face financial systems that:

• Penalise them for climate risks they didn't create
• Exacerbate vulnerabilities through rising sovereign defaults
• Fail to support long-term resilience investments

This episode examines three critical dimensions:

• Systemic reforms needed to align debt frameworks with climate reality
• Distributional challenges preventing finance from reaching frontline communities
• Innovative proposals to achieve climate justice through financial transformation

Guests

• Moritz Kraemer, Chief Economist, LBBW; Co-Chair, Expert Review on Debt, Nature and Climate
• Yussuf Hussein, Climate Finance Advisor, Kenya’s Special Envoy on Climate Change
• Sarah Colenbrander, Director, Climate and Sustainability Programme, ODI Global

Resources:

• Tackling the Vicious Circle: The Interim Report of the Expert Review on Debt, Nature and Climate
• Healthy Debt on a Healthy Planet: Towards a virtuous circle of sovereign debt, nature and climate resilience
• Indebted: how to support countries heavily reliant on oil and gas revenues to secure long-term prosperity