Cityscape of painted buildings of Mindelo, Sao Vicente Island, Cape Verde.The town is surrounded by mountains. A tan-colored deforested mountain lies to the east, and the smaller Vigia mountain defines the west edge of the town. To the south lies a range of brown deforested mountains Monte Cara, and the Morro Branco peak lies to the northwest. Photo Credit: Anthony Brawley Photography/Getty Images
Environment Cape VerdePaying off Debt… with Climate Action
Cape Verde, previously a Portuguese colony, has signed a novel debt-for-climate agreement with Portugal.
“This is a new seed that we sow in our future cooperation. Climate change is a challenge that takes place on a global scale and no country will be sustainable if all countries are not sustainable,” says Portuguese Prime Minister António Costa.
The West African island nation owes Portugal hundreds of millions of dollars. The debt, Costa announced, will be put towards Cape Verde’s energy transition and fight against climate change. Potential ideas for the nation include green hydrogen and other renewable energy projects. Debt-for-climate swaps are one key way smaller nations in particular can aid in the race against climate change with various Latin American countries already having participated in similar agreements in recent years.
