FINANCE / TRADE /
GENDER EQUALITY / ACCOUNTABILITY

Climate Resilient Debt Clauses – a Call to Action

Organizers: COP28 Presidency: Finance team

In the wake of disasters countries face painful trade-offs between rebuilding their communities and making debt repayments. Climate Resilient Debt Clauses (CRDCs) allow debt service to be paused to provide breathing space when countries are hit by climate catastrophes, such as hurricanes and floods, and pandemics. In June the UK and Barbados, together with Ghana, France, US and Spain, launched a call for bilateral, multilateral and private sector creditors to offer Climate-Resilient Debt Clauses by the end of 2025, with a group of early movers offering the clauses by COP28, so that borrowing nations have the necessary fiscal room to respond fully to shocks.

TWO-WEEK SCHEDULE

11 Dec
12 Dec

FINAL NEGOTIATIONS

On the final two days of COP28, there will be no thematic days to avoid extensive programming when the negotiation text is often being closed.
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10 Dec

FOOD, AGRICULTURE, AND WATER

Climate change is creating severe pressure and risks for the agri-food and water systems that underpin human wellbeing.
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9 Dec

NATURE, LAND USE, AND OCEAN

The conservation, restoration, and sustainable management of nature is integral for achieving the goals of the Paris Agreement.
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