Ecological debt and global warming . Andrew Simms argues that developed countries have run up an ecological debt by over-using the global economy. Less developed countries may well seek compensation through international courts ? or, perhaps, through reverse debt swaps, in which environmental debts are exchanged for rich countries' equity. The way forward may be through the trading schemes envisaged in the Contraction & Convergence plans of the Global Commons Institute.
By New Economics Foundation, UK.