Rich countries ‘trap’ poor nations into relying on fossil fuels

Richer countries and private lenders are perpetuating a cycle of fossil fuel reliance for heavily indebted countries, forcing them to continue investing in such projects to repay their loans, according to a report by Debt Justice. The report calls for the cancellation of debts, particularly those associated with fossil fuel projects, as high debt levels hinder efforts to transition to renewable energy and exacerbate the global south's climate crisis.