Across 65 highly climate-vulnerable countries analyzed, debt servicing is expected to consume 65 percent of government revenue in 2026.

Compounding the problem, much of the international funding intended to help developing countries address climate change comes in the form of loans.

“A lot of that debt was taken on very unfair, illegitimate terms and shouldn’t really be part of the economic picture today,”

The report proposes several ways to break the cycle.

The report: Debt Fuels the Climate Crisis: How the Finance Flows