In this Jubilee Year 2025, the Church once again calls us to a profound examination of justice: economic, ecological, and spiritual. Two recent resources help illuminate this path: The Jubilee Report, commissioned by Pope Francis and produced by the Pontifical Academy of Social Sciences and Columbia University’s Initiative for Policy Dialogue, and the Dicastery for Promoting Integral Human Development thematic note titled Jubilee 2025: Remission of the Ecological Debt.
Together, these documents outline a moral and practical vision for an economy that serves life. They speak of debt, but not only in the conventional financial sense. They invite us to see the intertwined realities of financial debt and ecological debt, and how both weigh heavily on the peoples and ecosystems of the Global South.
Financial and Ecological Debt: Two Sides of the Same Coin
The Jubilee Report opens with a sobering reality: today, over 3 billion people live in countries that spend more on debt interest than on healthcare or education. These are often nations least responsible for climate change, but who now shoulder its harshest consequences. Meanwhile, the very architecture of global finance compounds this injustice, rewarding speculation, punishing the poor, and sidelining investment in long-term well-being.
The thematic note deepens this perspective with the concept of ecological debt. Historically, industrialized nations built their wealth through the overuse of carbon and the extractive exploitation of resources from the Global South. As Laudato Si’ reminds us, “a true ecological debt exists, particularly between the global North and South” (LS 51). This debt is rarely accounted for in global financial negotiations, yet it is paid daily in lost biodiversity, climate-induced displacement, and the sacrifice of futures.
Jubilee as Liberation, Then and Now
Rooted in the biblical tradition of release and restoration, Jubilee is not merely a spiritual symbol—it is a socio-political imperative. In Spes non confundit, Pope Francis recalls that Jubilee involves the “remission of debts, the release of captives, and the reallocation of land,” symbols of a more just order where life can flourish anew.
In this spirit, both documents converge on a radical but necessary proposal: the remission of unjust debts, particularly for the most vulnerable nations, grounded not only in solidarity but in justice.
The Jubilee Report offers technical, legal, and institutional pathways to this goal—from reforms of sovereign debt contracts and the IMF’s role, to calls for a new international architecture that aligns finance with human dignity. It even calls for a “HIPC II” (a second round of debt cancellation for Highly Indebted Poor Countries) and a Jubilee Fund to buy back debt on behalf of distressed nations
Toward an Integral Ecology of Economy and Creation
The challenge before us is not just financial restructuring, it is ecological conversion. The thematic note challenges us to integrate principles from Catholic Social Teaching: the common good, intergenerational justice, solidarity, and the universal destination of goods. It calls for lifestyle changes in the Global North and new alliances between churches and people in the Global South.
It also warns that even so-called “green transitions” can deepen ecological debt if they reproduce the same extractive patterns of exploitation. A truly integral ecology demands new models of cooperation, rooted in humility, equity, and co-responsibility .
What Can We Do?
As members of the Laudato Si’ Action Platform community, we are invited to:
- Raise awareness in our institutions and networks about the concept of ecological debt.
- Advocate for fair financial reforms that prioritize the poor and the planet.
- Build bridges between North and South, connecting dioceses, parishes, and organizations in mutual listening and action.
- Pray and act in the spirit of the Jubilee, recognizing that transformation begins in the heart and moves outward.
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As we journey toward integral ecology, we can incorporate these commitments into our Laudato Si’ Plan, aligning our actions with the principles of ecological justice and solidarity. By doing so, we not only deepen our spiritual and ecological conversion but also make our efforts visible to others through the plans and reflections we share and, ultimately, the Laudato Si’ certificate we receive as a sign of our ongoing transformation.
Let this Jubilee not be a formality. Let it be a turning point toward an economy that heals, a creation that breathes, and a humanity that remembers the sacred rhythm of justice.