World Bank accused of overstating its climate finance budget

The World Bank has come under fire from Oxfam for allegedly exaggerating the amount of climate funding it has raised for developing countries by billions of dollars. In 2020, the World Bank’s headline $17.2 billion figure for climate finance disclosures was determined to be up to $7 billion, or 40%, wrong.

Several of the issues raised include:

  • There is little understanding of the quantity and quality of financial flows.
  • Consistent disclosure of climate finance assessments by the World Bank

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