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Dear friend,

Last week 50 world leaders met in Paris to talk about debt, the climate crisis and the global financial system.

Billed as a chance to not just tinker at the edges but deliver the big changes needed to cope with the climate crisis in the coming years, what did they actually deliver?
Find out what happened in Paris
So much is at stake. 54 countries are in debt crisis, and the climate emergency is only going to make this worse, with more and more countries going into debt to pay for the costs of adaptation, as well as climate disasters such as floods and hurricanes.

Unfortunately, despite all the rhetoric, the summit failed to deliver the debt cancellation needed for countries in crisis. A partial debt relief deal was agreed for Zambia, which is good news, but big banks and hedge funds, the private lenders who if paid in full could make up to 250% profit on Zambia’s debt, refused to take part.
Read all about it

There was some cause for hope. Campaigners and activists, together with some world leaders continued to call for radical change to the global financial system. Barbados’ Prime Minister Mia Mottley demanded “transformation, not reform” from the rich country governments sat around the table.

This makes our campaign for a new law to compel private lenders to cancel debt even more urgent.

We’ll be keeping up the pressure in the coming months to make sure we win the changes needed and cancel the debt.

Thank you for everything you do,

Eva, Tess, Jerome and the whole team at Debt Justice

P.s. If you didn’t catch our webinar before the summit explaining what’s at stake and why we need a new law, you can catch up online.
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