Hundreds of thousands of people have staged protests throughout the world, in both the Developing and the developed parts of the world, to increase awareness about the climate change issue and place stress on politicians to act. It’s a powerful reminder of the seriousness of the issue at hand on World Environment Day, and that greater help is required.
The Worries
The most recent Intergovernmental Panel on Climate Change (IPCC) report calls for immediate action. Science is unequivocal on this: if existing policies and practices continue, institutionalised life will disappear. Furthermore, there is a relationship between the climatic problem and social inequality. As a result, the campaign ‘Debt for Climate!’ intends to bring together activists from the Developing Nations and the Global North to integrate the struggle for social equality with fighting climate change.
Debt-Trap Diplomacy
According to the ‘Debt for Climate!’ developed nations, especially in the industrialized world owe an environmental obligation to the countries of the developing world. Not only are the nations of the Eastern Hemisphere by far the largest emitters of greenhouse gas emissions in history, and 100 global companies, almost which are all from the Eastern Hemisphere, are liable for 71 percent of greenhouse gas emissions today, but these multinational enterprises keep plundering the mineral wealth of the Developing World.
Nations in the Developing World are in debt to the World Bank and IMF which provide them with loans that not only raise their burden but also push them to reshape their economies, sometimes at great human and environmental cost. Argentina is currently facing financial suffocation as a result of a new IMF loan, which ‘Debt for Climate!’ refers to as ‘debt-trap diplomacy.’ Argentina is just one of many examples.
What To Do?
The number of crises is growing, and they appear to be catastrophic. Crises, on the other hand, might present an opportunity as well. Even if it means taking two steps forward and one step back, rebellion can function properly and progress could be made. It is evident that people cannot rely on the generosity of the leadership of the Western World, particularly the G7 nations, to solve our problems.
Activists and force from the public, as well as teamwork and communication, have always won battles. The battles of the Global South for debt cancellation and the eventual abolition of neo-colonial institutions and oppressive measures endangering organised social existence on Earth may motivate and teach people political progressives. People must compel creditor nations and their controlled international organisations to erase the debts of the indebted countries.
