UN Green Climate Fund: good for bankers, bureaucrats, but not so much the poor

UN Green Climate Fund (GFC) — nice rort if you can get it

The UN climate fund was set up in 2010 but has yet to send a single dollar of project money to its star sinking island (which isn’t sinking, but is poor).

The NY Times has a long article describing how billions of dollars is being spent, but somehow it seems to be going to the wrong places. Given the lack of accountability, voters, and elections, who could have seen that coming?

The GFC GONGO is ruled by a Board of 24 people who jetset to Korea, hand out other people’s money, and get applause. In 2012 they were seeking immunity from all laws and taxes. Presumably they succeeded. In 2014, they were caught funding a new coal power station in Indonesia to reduce carbon emissions. I wondered if that was rorting, cronyism, or ‘success’. Greens were not happy. Now we find out that the rest of the money is ending up with the renewables industry, investment bankers, and bureaucrats:

U.N. Climate Fund Promised Billions to Poor Nations. For Some, the Wait Is Long.

Transparency, not so good:

The observers took issue, […]