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Climate finance programme funnelling billions of dollars back to rich countries

Climate finance programme funnelling billions of dollars back to rich countries
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A program meant to help developing nations fight climate change is funneling billions of dollars back to rich countries

A program meant to help developing nations fight climate change is funneling billions of dollars back to rich countries
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Rich nations reap climate finance dividend, benefiting from rates and terms

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.

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Wealthy Nations Reap Billions from Climate Finance Meant for Developing Countries

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.

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A program meant to help developing nations fight climate change is funneling billions of dollars back to rich 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

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