Context

• The 28th Conference of Parties to the United Nations Framework Convention on Climate Change (COP 28), leaders from Kenya, Colombia and France launched the Global Expert Review on Debt, Nature and Climate.

About Global Expert Review on Debt, Nature and Climate

• First proposed at the Summit for a New Global Financing Pact in Paris in June this year, the announcement signals movement on spotlighting the issue of debt distress in the context of climate change.
• The coalition comes as part of a slew of announcements at the climate change conference related to financial systems transformation for addressing climate change, starting with the UAE Leader’s Declaration on a Global Climate Finance Framework.
• The aim of the effort is to make structural economic transformation for low carbon economic growth.

Source: DTE