and other escalating global crises. We, therefore, need creative thinking about how to advance multiple objectives at the same time.
But that will not be possible if governments are bogged down in a debt crisis. If anything, debt-service requirements will push countries to pursue export revenues at any cost, including by cutting corners on climate-resilient infrastructure and stepping up their own fossil-fuel use and extraction of resources.
This concept should now be expanded to include people-centred investments that address both climate change and inequality. Developing countries will need additional resources if they are to have any chance of leaving fossil fuels in the ground, investing sufficiently in climate adaptation, and creating opportunities for 21st-century jobs.
There is no question that many countries will need debt relief to respond effectively to the Covid-19 crisis, and then to climate-proof their economies in a socially inclusive way. For many people in the countries that are most vulnerable to climate change, coming up with the resources for such investments is a matter of survival.
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