“It’s ironic it’s being suggested as the way forward.” “The World Bank is not a democratic institution and in the past, has often favoured rich countries. Where does that leave the least developed countries?”
“We need a new global climate fund to be placed under the authority of the UNFCCC where there is an equitable say in decision-making and where money can be channelled for the specific and long-term needs of countries."
Danish government plans are undermining developing countries’ call for a new global climate fund to be managed by the UNFCCC, says ActionAid after documents were leaked today.
The Danish government appears to be falling in line with other developed countries calling for the World Bank to handle climate finance, according to the latest draft documents. “The World Bank has a very poor record dealing with development and environmental sustainability,” said Harjeet Singh, ActionAid’s climate change advisor, at the Copenhagen Summit. he added.