Climate change money going to strange places
Posted: Thu Jun 01, 2023 8:29 pm
Oh dear. 
Funding for the five projects totaled $2.6 billion, and all four countries counted their backing as so-called “climate finance”
ITALY helped a retailer open chocolate and gelato stores across Asia.
The United States offered a loan for a coastal hotel expansion in Haiti.
Belgium backed the film “La Tierra Roja,” a love story set in the Argentine rainforest.
And Japan is financing a new coal plant in Bangladesh and an airport expansion in Egypt.
Although a coal plant, a hotel, chocolate stores, a movie and an airport expansion don’t seem like efforts to combat global warming, nothing prevented the governments that funded them from reporting them as such to the United Nations and counting them toward their giving total.
In doing so, they broke no rules. That's because the pledge came with no official guidelines for what activities count as climate finance.
https://www.reuters.com/investigates/sp ... e-finance/
Paywall removed version here,
https://12ft.io/proxy?q=https%3A%2F%2Fw ... finance%2F
Funding for the five projects totaled $2.6 billion, and all four countries counted their backing as so-called “climate finance”
ITALY helped a retailer open chocolate and gelato stores across Asia.
The United States offered a loan for a coastal hotel expansion in Haiti.
Belgium backed the film “La Tierra Roja,” a love story set in the Argentine rainforest.
And Japan is financing a new coal plant in Bangladesh and an airport expansion in Egypt.
Although a coal plant, a hotel, chocolate stores, a movie and an airport expansion don’t seem like efforts to combat global warming, nothing prevented the governments that funded them from reporting them as such to the United Nations and counting them toward their giving total.
In doing so, they broke no rules. That's because the pledge came with no official guidelines for what activities count as climate finance.
https://www.reuters.com/investigates/sp ... e-finance/
Paywall removed version here,
https://12ft.io/proxy?q=https%3A%2F%2Fw ... finance%2F