Developing countries particularly vulnerable to climate change are facing over $100 billion annually in climate-related loss and damage, sinking into debt as a result.
Hurricane clauses offer much-needed liquidity to debt-burdened nations after disasters, but the deferred debt service will still have to be repaid at a later time.
The belief that international levies to fund climate loss and damage are unrealistic stems from a misunderstanding of how such financial mechanisms have been utilized in the past.
To address the escalating impacts of climate change, solutions such as levies to support vulnerable regions must be reconsidered despite political pushbacks against international aid.
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