PRESS RELEASE - DEBT FUELS CLIMATE CRISIS
Climate-vulnerable countries spend nearly 25 times more on debt than on climate action, new ActionAid report finds
New report finds that the most climate-vulnerable countries are spending nearly 25 times more on debt repayments than on climate action, while debt servicing absorbs 65% of their combined government revenue. The Global South is paying approximately 225 times more in debt repayments than it receives in grant-based climate finance - US$8.8 trillion in repayments in 2026 compared with the latest figure of US$39 billion in climate grants in 2024.