Anti-corruption organization warns of climate fund misuse

As governments prepare to spend up to $100 billion annually by 2020 to limit climate change and prepare for its impact, Transparency International is warning of the corruption risks of climate finance flowing through new, untested channels and recommends strengthening governance systems to tackle them.

“The Global Corruption Report: Climate Change” sets out practical guidelines to prevent corruption undermining climate change measures and calls on governments, international organizations, businesses and civil society to ensure good governance in climate policy, the organization said.

Under global climate agreements, substantial new funding from governments and other agencies will be made available to finance mitigation of climate change, such as renewable energy projects like wind farms or solar power plants, and adaptation to it, such as constructions of sea walls, irrigation systems and disaster-ready housing.

None of the 20 countries expected to be most affected by climate change – where much of this money will be spent – scores higher than 3.6 on the Transparency’s Corruption Perceptions Index, in which 0 indicates perception of extremely corrupt and 10 is very clean.

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