Dossier

Debt Relief for Green and Inclusive Recovery

At precisely the moment when substantial investment is needed to meet shared climate and development goals, a debt crisis is emerging in the Global South. However, existing debt relief initiatives are limited, both in the types of creditors brought to the table and the amount of debt relief on offer.

The Debt Relief for Green and Inclusive Recovery (DRGR) project, a collaboration between the Boston University Global Development Policy Center, Heinrich-Böll-Stiftung and the Centre for Sustainable Finance, SOAS University of London, argues it is time for comprehensive debt reform. Utilizing rigorous research, DRGR seeks to develop systemic approaches to both resolve the debt crisis and advance a just transition to a sustainable, low-carbon economy in partnership with policymakers, thought leaders and civil society from around the world.

For more information, please visit our website www.drgr.org

Video

Debt Relief for Climate Vulnerable Nations - Heinrich-Böll-Stiftung

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Main Reports

Cover der Studie "Debt Relief for a Green and Inclusive Recovery"

Debt Relief for Green and Inclusive Recovery

This report proposes a Debt Relief for Green and Inclusive Recovery Initiative as an ambitious, concerted, and comprehensive debt relief initiative that frees up resources to support recoveries in a sustainable way, boosts economies’ resilience, and fosters a just transition to a low-carbon economy.

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Cover: Debt Relief for a Green and Inclusive Recovery

Debt Relief for a Green and Inclusive Recovery

Report

The Debt Relief for Green and Inclusive Recovery initiative of the Heinrich Böll Foundation, the Centre for Sustainable Finance at SOAS University London and the Boston University Global Development Policy Center presents its current refined proposal for concerted and comprehensive debt relief at the global level to promote a just transition to a low-carbon economy.

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Vidoes: Presentation of Main Reports

Debt Relief for a Green and Inclusive Recovery - Heinrich-Böll-Stiftung

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Key Messages - Launch Debt Relief for a Green and Inclusive Recovery Report - Heinrich-Böll-Stiftung

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Recording - Launch of the Report Debt Relief for a Green and Inclusive Recovery - Heinrich-Böll-Stiftung

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Background Papers

Debt Relief by Private Creditors: Lessons from the Brady Plan

Debt Relief for Green and Inclusive Recovery Project

This paper reviews the main features of and experiences with the Brady Plan, which in 1989 laid the foundation for the restructuring of the sovereign debt of mainly Latin American countries. It argues that the combination of credit enhancement for restructured debt, moral suasion, and tax as well as regulatory relief to encourage private creditors to participate in debt restructurings may provide a template for addressing today's sovereign debt problems.

Compensating Indebted Countries for Keeping Fossil Fuels in the Ground

Compensating Indebted Countries for Keeping Fossil Fuels in the Ground

Fossil fuel development, in particular oil and gas, promised vast riches in the past. Today it is exposing fossil fuel producers and their creditors to a massive stranded asset risk. Technological disruption with the rapid cost-reduction of renewable energy and storage technologies, in conjunction with the inevitability of increased climate action, are at the root of unprecedented uncertainties over the future of the sector. 

Debt for Climate Opportunities in South Africa

Debt for Climate Opportunities in South Africa

South Africa’s economy, which was already in a precarious state before Covid-2019, has been tipped into full blown crisis by the pandemic. Gross national government debt  is expected to be upwards of 86% within two years. Eskom, which is the country’s state-owned monopolistic and vertically integrated electricity utility, is a key driver of this escalating debt profile and lies at the heart of the economy’s structural challenges.