Pope Francis was never attracted to Pomp or the magnificent. He requested that it be buried in a simple coffin, and his funeral was held not in the gorgeous halls of the Vatican, but in a humble community church, faithful to his lifelong humility. As a summary, today choosing his successor, world leaders and faith communities are reflecting on how best to advance his legacy. Francis wouldn't want a gorgeous tribute or empty gesture. He would have wanted to take action – especially in the form of abolishing debt in developing countries and recommitting to climate justice.

Francis envisioned 2025, the jubilation of the Catholic Church, a time to restore justice between people, between countries, and between the earth itself. It's time to wipe the slate and start over, not with words but with deeds. The vision is closely aligned with another urgent global essential: 2025 is also a warning that global carbon emissions must peak and start to decline if we are to avoid catastrophic climate breakdowns.

But many countries that have been most affected by climate change are not prepared and are trapped in a deteriorating "climate-doomsday cycle." From cyclones in Mozambique to floods in Pakistan, and long-term drought in Malawi, climate-related catastrophes (which are overwhelmingly caused by industrialized countries) are tearing down the infrastructure and economies of developing countries and disappearing millions of people.

However, rather than getting long-term overdue funds and support, the record levels of payments for debt are exhausted, it owes many countries and institutions most responsible for global warming. According to 350.org's calculations, developing countries spend 40 times more on serving foreign debt in 2023 than they receive in net climate aid.

This is not only unfair, but also self-deception. Funds to invest in clean energy, sustainable agriculture, afforestation, flood control and public health should be transferred to repay wealthy creditors. At the same time, the continuous escalation of climate change is driving borrowing costs and making vulnerable countries deeper into debt. Every $10 spent on debt payments effectively adds one dollar to additional costs to provide climate risk.

The ripple of consequences goes far beyond environmental damage. Debt services now consume more of government spending in many countries than health care and education combined. More than 3 billion people live in countries with interest payments, rather than meeting basic human needs. It's not only economically shortsighted - it's a moral scandal.

Pope Francis named this reality with firm clarity. He wrote in his final message of the New Year: “Foreign debt has become a means of control, and the government and private financial institutions in wealthy countries do not surrender and use the human and natural resources of poor countries in an inseparable manner, just to meet the needs of their own markets.”

He reminds us that the financial debt of the global South is a mirror of the huge ecological debt owed by the global North. Research by Oxfam and others estimates that wealthy countries (responsible for more than 75% of historical carbon emissions) owe about $5 trillion in climate-related compensation each year. That's a viable number, especially if you think these wealthy governments are currently spending about $7 trillion a year on the fossil fuel industry.

There are precedents for bold transformational actions. In the Last Jubilee - 2000 - a global campaign led by civil society and faith groups canceled more than $10 billion in debt from 35 heavily indebted countries. The results were excellent: Tanzania and Uganda canceled primary school fees and increased enrollment. Mozambique and others have expanded access to health care. Credit ratings in several countries have improved, and foreign investment has improved.

The initiative is to recognize that the economy must serve people, not the other way around. However, it cannot address the deeper structural flaws that can reappear in the debt crisis. In the years since then, especially during the 19th pandemic, debt has surged again. Now, combined pressures on climate impacts, aid decline and economic instability, including trade disruptions caused by protectionist policies, threaten to release a global debt tsunami.

The poorest countries may be hit, but this is not a crisis they face alone. A world bound by unjust debt cannot decisively prevent climate collapse. The debt crisis, if not resolved, will undermine efforts to protect people and the planet.

Pope Francis reminds us that forgiveness, renewal and justice are not abstract ideals. In an era of ecological collapse, they are necessary conditions for morality and practice. As the world prepares for the next chapter of the Pope’s leadership, we must act in his spirit: by resetting the rules of a broken financial system and establishing a rule rooted in equity, solidarity and care for our common residence.

The views expressed in this article are the author's own views and do not necessarily reflect the editorial position of Al Jazeera.