A recent Oxfam investigation disclosed that the World Bank has lost track of up to $41 billion in climate finance funds between 2017 and 2023. This amount constitutes nearly 40% of the climate funds disbursed by the Bank over this period.
The Bank’s accounting method records funds at project approval, not completion, leading to a lack of transparency regarding actual expenditure.
Oxfam criticized the Bank for poor record-keeping, suggesting that the absence of clear records makes assessing the impact of these funds nearly impossible. This financial mismanagement has sparked concerns about the effectiveness and oversight of climate finance initiatives.
BREAKING: The World Bank has "misplaced" an astonishing $41 billion in climate change funds, with billions unaccounted for. Investigators found no clear public record detailing where the money went or how it was spent.
— The General (@GeneralMCNews) October 27, 2024
Net Zero: MPs demand ‘transparency’ from World Bank as up to £31BILLION of green funds go missing’ #News #GBNews #NetZero
— Keith Bays (@keith_bays) October 26, 2024
Check out my piece for @GBNEWS below 👇 https://t.co/gIHfY6OA5O
In case you needed any further confirmation that “climate change” is a giant money laundering scam, a new report from Oxfam has found that between 2017-2023, $41 Billion magically disappeared. pic.twitter.com/sfL8pbkADU
— Champagne Joshi (@JoshWalkos) October 25, 2024