logo
Billions of dollars of life-saving climate funds at risk of being stolen or misused, experts warn

Billions of dollars of life-saving climate funds at risk of being stolen or misused, experts warn

Yahoo11-02-2025

Corruption is eating into climate funds in the world's most vulnerable countries, experts warn.
For 30 years, Transparency International's Corruption Perceptions Index (CPI) has tracked abuses of power across the world, giving nations a rating out of 100.
Many climate-vulnerable nations and recent UN climate summit hosts score poorly in the new 2024 CPI. The findings have worrying implications for projects intended to protect people.
"We must urgently root out corruption before it fully derails meaningful climate action,' says CEO of Transparency International Maíra Martini.
'Today, corrupt forces not only shape but often dictate policies and dismantle checks and balances - silencing journalists, activists and anyone fighting for equality and sustainability.'
Related
Fossil fuel subsidies: G7 nations ignore targets and increase taxpayer funding to record levels
Top American banks exit net zero alliance: What does this mean for their European peers?
More than two-thirds of countries score below 50 out of 100, according to the report, which ranks 180 places on a scale of zero (highly corrupt) to 100 (very clean).
It draws on data from the World Bank, World Economic Forum, private risk and consulting companies, think tanks and other sources. It also reflects the views of experts and business people.
The global average rating has remained unchanged at 43, highlighting the need to root out this 'evolving global threat,' in the words of François Valérian, Transparency International's chair.
In the context of the climate crisis, it means that billions of dollars of climate funds are at risk of being stolen or misused.
Corruption in South Africa (41), Vietnam (40) and Indonesia (37), for example, is endangering the delivery of Just Energy Transition Partnerships (JETPs), the researchers say.
These partnerships are designed to help coal-dependent countries embrace a greener future, but Transparency International has found that insufficient safeguards create opportunities for unscrupulous actors to muscle in.
In South Africa, around a billion rand (more than €52 million) is stolen each month from Eskom, the state-owned energy provider, according to its former chief executive.
Countries suffering the worst impacts of the climate crisis have the lowest scores - including South Sudan (8), Somalia (9) and Venezuela (10).
Related
One person is killed every two days defending the environment. The EU must act
Corruption can obstruct climate policies in countries with both high and low ratings, Transparency International says.
But it is in wealthy, developed countries that this interference has the most serious impact because it undermines their work to agree on ambitious goals, reduce emissions and support developing countries.
The US, for example, fell from 69 to 65 points last year. Mads Christensen, executive director of Greenpeace International, comments that fossil fuel corruption is undermining climate efforts in the country.
The organisation is currently being sued by pipeline giant Energy Transfer, which 'is trying to wipe us off the map in the US with a massive, specious lawsuit,' he says. 'It's up to all of us who care about the future to stand up to these corporate bullies, no matter the cost."
In Europe, Denmark has obtained the highest score on the index (90) for the seventh year running, closely followed by Finland (88).
Kosovo (44) and Moldova (43) have taken significant steps to rise up the rankings in recent years, while France (67), Germany (75), Hungary (41) and Switzerland (81) dropped to their lowest levels yet in 2024.
Related
Carbon capture: The inside story of how a 'delay tactic' became a darling of the EU
The report found that transparency from the host countries of recent UN climate summits was also seriously lacking.
Azerbaijan, host of last year's COP29 - which granted access to at least 1,773 fossil fuel lobbyists - scored just 22 on the scale.
Eyes are turning to COP30 hosts Brazil, which will be responsible for securing last year's finance deal and deciding on a key pledge to transition away from fossil fuels. But in this year's CPI it received an all-time low score of 34.
'Governments and multilateral organisations must embed anti-corruption measures into climate efforts to safeguard finance, rebuild trust and maximise impact,' Martini urges.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Defining symbol of protests, volatile work schedules, healing power of travel: Catch up on the day's stories
Defining symbol of protests, volatile work schedules, healing power of travel: Catch up on the day's stories

CNN

time30 minutes ago

  • CNN

Defining symbol of protests, volatile work schedules, healing power of travel: Catch up on the day's stories

👋 Welcome to 5 Things PM! Almost two-thirds of US workers struggle with volatile and inflexible work schedules, according to a new Gallup survey. It's especially common among part-time employees and those without a college degree. Here's what else you might have missed during your busy day: 1️⃣ Defining symbol: Mexico's green, white and red flag has been a common sight at the protests in Los Angeles as demonstrators express solidarity with immigrants and denounce the ICE raids. The brandishing of Latin American flags in the US has a long and complex history. 2️⃣ Dicey outlook: Global economic growth is on track for its weakest decade since the 1960s, according to a new analysis. The World Bank cited US President Donald Trump's trade war as a major factor weighing on economies worldwide. 3️⃣ $1,000 per baby: The so-called 'Trump accounts' would provide parents of newborns with money to invest on behalf of their child's future as part of a five-year pilot program. Here's how it would work and who would benefit the most. 4️⃣ World traveler: Cameron Mofid has struggled with obsessive compulsive disorder since childhood. The California man recently became one of the few people who has visited all 195 UN-recognized countries and territories. He called it 'a form of healing.' 5️⃣ Skygazing: Keep an eye out tonight for June's full strawberry moon as well as the Milky Way and multiple planets. This will be the lowest full moon visible from the Northern Hemisphere in decades due to a phenomenon called a major lunar standstill. GET '5 THINGS' IN YOUR INBOX CNN's 5 Things newsletter is your one-stop shop for the latest headlines and fascinating stories to start and end your busy day. Sign up here. 🌊 Undersea wreckage: Researchers from the Woods Hole Oceanographic Institution in Massachusetts captured close-up images of a World War I-era submarine that was lost at sea 108 years ago. Take a closer look. • Military mobilization around LA protests will cost roughly $134 million• Gunman opens fire in Austrian school, killing 10 and throwing country into shock• Several dead after wave of explosions hit southwest Colombia, authorities say ✈️ That's how many fewer international travelers are expected to visit New York City this year than in 2024. 🌍 Call for help: Children removing plastic waste from a lake. Tree-covered mountains behind a massive pile of trash. A billboard on parched earth where the seashore used to be. Striking images like these, showing environmental destruction, aim to 'inspire action.' 🛒 Empty shelves: Whole Foods says it's working hard to restock stores with groceries after a cyberattack knocked one of its major suppliers offline. 🚢 Which activist was detained while aboard an aid ship headed for Gaza?A. Ai WeiweiB. Jane FondaC. Greta ThunbergD. Alicia Garza⬇️ Scroll down for the answer. 👨‍🎨 The real deal: A family displayed a marble sculpture on top of their piano alongside photos. They thought it was 'fake' — a copy of a work of art by renowned sculptor Auguste Rodin. It just sold at auction for nearly $1 million. 👋 We'll see you tomorrow.🧠 Quiz answer: C. Swedish climate and human rights activist Greta Thunberg departed Israel on a flight to France after being detained by Israeli forces aboard an aid ship bound for Gaza.📧 Check out all of CNN's newsletters. 5 Things PM is produced by CNN's Chris Good, Meghan Pryce, Kimberly Richardson and Morgan Severson.

Senators propose $15-per-hour federal minimum wage
Senators propose $15-per-hour federal minimum wage

UPI

time30 minutes ago

  • UPI

Senators propose $15-per-hour federal minimum wage

A proposed federal act would raise the federal minimum wage law to $15 an hour on January 1, two U.S. senators announced on Tuesday. The Service Employee International Union was fighting for that wage in 2021 (pictured). File Photo by Tasos Katopodis/UPI | License Photo June 10 (UPI) -- The federal minimum wage would rise to $15 per hour, with annual cost-of-living increases based on inflation, in a proposed bipartisan measure. Sens. Josh Hawley, R-Mo., and Peter Welch, D-Vt., co-sponsored the bill that they have named the "Higher Wages for American Workers Act" and would increase the federal minimum wage from its current $7.25 per hour for non-exempt workers. "For decades, working Americans have seen their wages flatline," Hawley said on Tuesday in a joint press release with Welch. "One major culprit of this is the failure of the federal minimum wage to keep up with the economic reality facing hardworking Americans every day," Hawley added. Welch said inflation and rising costs are making it too hard for families to afford basic necessities. "We're in the midst of a severe affordability crisis, with families in red and blue states alike struggling to afford necessities like housing and groceries," Welch said. "A stagnant federal minimum wage only adds fuel to the fire," he continued. "Every hardworking American deserves a living wage that helps put a roof over their head and food on the table -- $7.25 an hour doesn't even come close." "Times have changed, and working families deserve a wage that reflects today's financial reality," Welch added. Hawley said the current federal minimum wage is less than what a worker earned in 1940 when adjusted for inflation. If the proposed federal minimum wage increase is passed into law, it would take effect on Jan. 1 and allow cost-of-living increases that match inflation in subsequent years. Many states have respective minimum wage laws that exceed the current and proposed federal minimum wage, but a dozen still were at the federal minimum wage in 2024. Many large employers also have higher minimum wages, including Walmart, which has paid its workers at least $14 an hour and often more since 2023. President Joe Biden in 2021 ordered the federal government to pay contract workers at least $15 an hour. California lawmakers in 2022 raised the state's minimum wage for many fast-food workers to up to $22 an hour.

U.S. Conference of Mayors Statement on the Situation in Los Angeles
U.S. Conference of Mayors Statement on the Situation in Los Angeles

Yahoo

time30 minutes ago

  • Yahoo

U.S. Conference of Mayors Statement on the Situation in Los Angeles

WASHINGTON, June 10, 2025 /PRNewswire/ -- Today, U.S. Conference of Mayors President Columbus (OH) Mayor Andrew Ginther released the following statement on the situation in Los Angeles, California. "The streets of American cities are no place for the U.S. military. Law enforcement is a local responsibility, and America's mayors support Mayor Bass as she works with state authorities to promote order in her city. Protest, carried out peacefully, is a bedrock of our democracy. However, violence, theft, and destruction of property can never be tolerated. We have every confidence that Mayor Bass and state officials can manage the situation. The authorities there have the experience, training and resources to maintain peace and protect the rights of legitimate protestors. "With crime plummeting across the country, mayors have demonstrated their ability to promote public safety. Troops should never be deployed to cities without the request of state and local authorities. The U.S. Conference of Mayors stands firmly behind the rights of mayors to determine the best public safety strategies for their individual cities. We urge the president to work constructively with local and state authorities as we all strive to make our cities and the nation stronger." About the United States Conference of Mayors – The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are more than 1,400 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Follow our work on X, Facebook, Instagram, LinkedIn, Threads, and Medium. View original content to download multimedia: SOURCE U.S. Conference of Mayors

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store