To gain a better understanding of the complex intersections between sovereign debt and climatic upheaval, on June 12, 2023, the Center on Global Energy Policy, Columbia University SIPA convened a workshop on the topic that brought together current and former government officials from EMDEs, officials from multilateral development banks (MDBs), private sector investors and bondholders, representatives from nongovernmental organizations (NGOs), and academics. The discussion addressed the following broad questions:

• What are the advantages and disadvantages of integrating climate mitigation and adaptation commitments into sovereign borrowing—specifically thematic bonds such as green bonds and sustainability-linked bonds (SLBs)?
• How is the role of MDBs evolving and what are the emerging forms of financial assistance aimed at dealing with the twin challenges of debt and climate?
• What role can debt-for-climate swaps play in EMDEs’ debt-liability and -restructuring operations, and are they scalable?

This roundtable report summarizes the discussion that took place and the key insights that emerged from it. […]