A program meant to help developing nations fight climate change is funneling billions of dollars back to rich countries sott.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sott.net Daily Mail and Mail on Sunday newspapers.
Developed nations have pledged to send $100 billion a year to poorer countries to aid adaptation, but money from the deals is being funneled back into rich economies.
Summer Misery: Why is it so hot in Delhi? Is climate change making heatwaves worse? firstpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from firstpost.com Daily Mail and Mail on Sunday newspapers.
Wealthy nations, including Japan, France, Germany, and the U.S., gain billions from a global climate finance program intended to help developing countries. By imposing loan conditions and hiring requirements, these nations divert funds back to their economies, contradicting the program's goals and exacerbating debt in poorer countries.
By Irene Casado Sanchez, Jackie BottsJapan, France, Germany, the United States and other wealthy nations are reaping billions of dollars in economic rewards from a global program meant to help the developing world grapple with the effects of climate change, a Reuters review of U.N. and Organisation