How the Global Migration Crackdown Affects Climate Finance
Remittances are a crucial financial inflow for developing countries, and when immigrants are kept out - or kicked out - of rich countries, less money is remitted home. That has especially significant repercussions for climate-vulnerable countries, where remittances help build household and community resilience against climate change. In their article analyzing the impact of remittances on developing economies,
Carnegie fellows Noah Gordon and Debbra Goh find that remittances are a key source of climate finance. As official development aid declines and the climate crisis intensifies, policymakers must find innovative solutions for financing shortfalls. Both origin and destination countries can take steps to increase remittance flows and channel them towards much-needed climate action.
https://go.carnegieendowment.org
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