This is where debt is restructured to allow funds to be freed up for investment in conservation and clean energy. Another proposal are debt-for-nature or debt-for-climate swaps, explored by countries including Cape Verde and Zambia. This includes a $100 billion plan to drive more climate and development investment using currency guarantees from the International Monetary Fund and other multilateral development banks. Among them is the Bridgetown Initiative championed by Barbados's Prime Minister Mia Mottley. Suggested solutions have been put forward. Saddled with debt and vulnerable to interest rate changes, they are the last who are able to fund decisive climate action. Bloombergįighting climate change by adapting nations’ economic growth and energy production costs money, and heavily indebted nations are hamstrung from the start. The Bridgetown Initiative, championed by Barbados's Prime Minister Mia Mottley, above, includes a $100 billion plan to drive more climate and development investment using currency guarantees from the International Monetary Fund and banks. Funding whole-scale changes to countries’ economic development and resource use, even more so. Finding and effectively implementing technical solutions to mitigate global warming – such a greener forms of energy production – are complex enough. Such nations are often the most vulnerable to the effects of climate change, a phenomenon that has largely been fuelled by the industrialised world. When calamities like these hit emerging and developing economies, the consequences can be devastating. The wave of disease is being blamed on drought and water scarcity that has led to rural displacement and an increase in tick density and animal infestation, according to Dr Ahmed Zouiten, the World Health Organisation's representative in Iraq. Congo fever, passed to humans through ticks or direct contact with the blood or bodily fluids of infected animals, claimed 32 lives amid hundreds of infections. In Iraq, climate change collided with viral disease. Of them, 54 died from suspected heart attacks, strokes and diarrhoea, officials said. One district hospital in Uttar Pradesh, where temperatures rose to 43☌ – five degrees above the normal range for the month – admitted at least 400 people. In India, close to 100 people lost their lives this week in sweltering, unusually high temperatures. They did so amid a backdrop of worrying – and deadly – climatic developments. Fifty heads of state and government, as well as representatives from more than 100 countries, met in Paris yesterday for a summit to tackle the thorny issues of international debt and green finance.
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