2020 Breakfast in Davos: Escaping the Climate Debt Trap

The social, economic, and political effects of climate change are grimly inequitable. Climate change has had a much bigger impact on the economies of low-income countries many located in tropical areas that have seen a sharp increase in the incidence of natural disasters in recent decades. Moreover, the massive buildup in global debt has left many of these climate-vulnerable countries struggling with higher financing costs and debt sustainability severely limiting their ability to rebuild after disaster, and to finance either mitigation or adaptation strategies. These vulnerabilities in turn could amplify climate shocks, with significant adverse spillovers for the global economy and financial system. This session will consider opportunities for the financial sector to help address these challenges and foster inclusive growth in climate-vulnerable low-income counties.

This breakfast event will include a discussion panel focusing on debt sustainability in climate-vulnerable countries, and will feature James McCormack, Global Head of Sovereign and Supranational Ratings, Fitch Ratings and Sherry Madera, Chief Industry and Government Affairs Officer, Refinitiv.

If you have any questions about the event or are interested in attending, please contact Raymond Aycock at [email protected].