If we cancelled Ukrainian Debt...
the American and Russian war machines support each other
If we cancelled Ukrainian Debt we'd have to cancel American Debt -- If we had so much democracy globally that Russia couldn't wage imperialist wars we'd have so much democracy globally that America couldn't wage imperialist wars...in this way the American and Russian war machines support each other, and the collective war machine's the single largest contributor to climate change.
How would debt cancellation cause democracy to increase? It seems to be that in the absence of certain cultural+political structures, money strengthens autocracy. The money from those debts, in many cases, did little but line the pockets of dictators.
China's a great example. They've become rich, and many commentators thought that meant they'd adopt liberal democracy. If anything, they're sinking further into totalitarianism.