Climate funding unprecedented opportunity for corruption, warns Transparency

Over US$130 billion in worldwide funding for climate change adaption and mitigation projects is predicted to flow into the highly complex aid sector, said TM Project Coordinator Maurifa Hassan, during the local launch of Transparency International’s Global Corruption Report focusing on climate change.

“Those most affected by climate change are those most marginalised,” said Hassan during the launch at Traders Hotel. “Rules of engagement” set by donor nations were “diverse and complicated”, and directing funding to where it was needed most would require strengthening transparency and governance practices.

Already, she said, “where carbon markets have been introduced, the rules tend to be set by the market leaders.”