We are a grassroots, Global South-driven initiative connecting social & climate justice struggles by uniting labor, social and climate movements from the Global South & North toward a common goal of turning debt-trap diplomacy on its head by canceling the debt of impoverished nations as a way to pay for leaving fossil fuels in the ground and financing a just transition. The implementation of a global Debt-for-Climate initiative has the potential to leave trillions of dollars in fossil fuel reserves in the ground, while freeing countries from a strangling debt burden often used as a tool for further extraction of natural resources.
We are coming together again on February 27, 2023 to turn the tables on financial colonialism on the 70th anniversary of Germany´s debt cancellation after WWII, which enabled that country´s “Economic Miracle”. If debt could be cancelled back then for the country responsible for WWII, it can definitely be cancelled to enable a just transition in the Global South! Join us around the world to hold the Global North accountable for its climate debt!