Connect with us
[bsa_pro_ad_space id=12]

Business

Up to $41 billion in World Bank climate finance unaccounted for, Oxfam finds

Published

8 months ago

4 minute read

News release from Oxfam International

Up to $41 billion in World Bank climate finance —nearly 40 percent of all climate funds disbursed by the Bank over the past seven years— is unaccounted for due to poor record-keeping practices, reveals a new Oxfam report.

An Oxfam audit of the World Bank’s 2017-2023 climate finance portfolio found that between $24 billion and $41 billion in climate finance went unaccounted for between the time projects were approved and when they closed.

There is no clear public record showing where this money went or how it was used, which makes any assessment of its impacts impossible. It also remains unclear whether these funds were even spent on climate-related initiatives intended to help low- and middle-income countries protect people from the impacts of the climate crisis and invest in clean energy.

“The Bank is quick to brag about its climate finance billions —but these numbers are based on what it plans to spend, not on what it actually spends once a project gets rolling,” said Kate Donald, Head of Oxfam International’s Washington D.C. Office. “This is like asking your doctor to assess your diet only by looking at your grocery list, without ever checking what actually ends up in your fridge.”

The Bank is the largest multilateral provider of climate finance, accounting for 52 percent of the total flow from all multilateral development banks combined.

The issue of climate finance will take center stage at this year’s COP in Azerbaijan, where countries are set to negotiate a new global climate finance goal, the New Collective Quantified Goal (NCQG). Climate activists are demanding the Global North provide at least $5 trillion a year in public finance to the Global South “as a down payment towards their climate debt” to the countries, people and communities of the Global South who are the least responsible for climate breakdown but are the most affected. Oxfam warns that the lack of traceable spending could undermine trust in global climate finance efforts at this critical juncture.

“Climate finance is scarce, and yes, we know it’s hard to deliver. But not tracking how or where the money actually gets spent? That’s not just some bureaucratic oversight —it’s a fundamental breach of trust that risks derailing the progress we need to make at COP this year. The Bank needs to act like our future depends on tackling the climate crisis, because it does,” said Donald.

Oxfam’s investigation revealed that obtaining even basic information on how the World Bank is using climate finance was painstaking and difficult.

“We had to sift through layers of complex and incomplete reports, and even then, the data was full of gaps and inconsistencies. The fact that this information is so hard to access and understand is alarming —it shouldn’t take a team of professional researchers to figure out how billions of dollars meant for climate action are being spent. This should be transparent and accessible to everyone, most importantly communities who are meant to benefit from climate finance,” said Donald.

Notes to editors

Download Oxfam’s new report “Climate Finance Unchecked.”

Related Topics:

Todayville is a digital media and technology company. We profile unique stories and events in our community. Register and promote your community event for free.

Follow Author

More from this author
Business / 8 hours ago

RFK Jr. says Hep B vaccine is linked to 1,135% higher autism rate

International / 8 hours ago

RFK Jr. tells Tucker how Big Pharma uses ‘perverse incentives’ to get vaccines approved

Censorship Industrial Complex / 8 hours ago

Global media alliance colluded with foreign nations to crush free speech in America: House report

Business

RFK Jr. says Hep B vaccine is linked to 1,135% higher autism rate

Published on July 1, 2025

By

From LifeSiteNews

By Matt Lamb

They got rid of all the older children essentially and just had younger children who were too young to be diagnosed and they stratified that, stratified the data

The Centers for Disease Control and Prevention (CDC) found newborn babies who received the Hepatitis B vaccine had 1,135-percent higher autism rates than those who did not or received it later in life, Robert F. Kennedy Jr. told Tucker Carlson recently. However, the CDC practiced “trickery” in its studies on autism so as not to implicate vaccines, Kennedy said.

RFK Jr., who is the current Secretary of Health and Human Services, said the CDC buried the results by manipulating the data. Kennedy has pledged to find the causes of autism, with a particular focus on the role vaccines may play in the rise in rates in the past decades.

The Hepatitis B shot is required by nearly every state in the U.S. for children to attend school, day care, or both. The CDC recommends the jab for all babies at birth, regardless of whether their mother has Hep B, which is easily diagnosable and commonly spread through sexual activity, piercings, and tattoos.

“They kept the study secret and then they manipulated it through five different iterations to try to bury the link and we know how they did it – they got rid of all the older children essentially and just had younger children who were too young to be diagnosed and they stratified that, stratified the data,” Kennedy told Carlson for an episode of the commentator’s podcast. “And they did a lot of other tricks and all of those studies were the subject of those kind of that kind of trickery.”

But now, Kennedy said, the CDC will be conducting real and honest scientific research that follows the highest standards of evidence.

“We’re going to do real science,” Kennedy said. “We’re going to make the databases public for the first time.”

He said the CDC will be compiling records from variety of sources to allow researchers to do better studies on vaccines.

“We’re going to make this data available for independent scientists so everybody can look at it,” the HHS secretary said.

Health and Human Services also said it has put out grant requests for scientists who want to study the issue further.

Carlson asked if the answers would “differ from status quo kind of thinking.”

“I think they will,” Kennedy said. He continued on to say that people “need to stop trusting the experts.”

“We were told at the beginning of COVID ‘don’t look at any data yourself, don’t do any investigation yourself, just trust the experts,”‘ he said.

In a democracy, Kennedy said, we have the “obligation” to “do our own research.”

“That’s the way it should be done,” Kennedy said.

He also reiterated that HHS will return to “gold standard science” and publish the results so everyone can review them.

Continue Reading

Business

Elon Musk slams Trump’s ‘Big Beautiful Bill,’ calls for new political party

Published on July 1, 2025

By

From LifeSiteNews

By Robert Jones

The Tesla CEO warned that Trump’s $5 trillion plan erases DOGE’s cost-cutting gains, while threatening to unseat lawmakers who vote for it.

Elon Musk has reignited his feud with President Donald Trump by denouncing his “Big Beautiful Bill” in a string of social media posts, warning that it would add $5 trillion to the national debt.

“I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it,” Musk exclaimed in an X post last month.

Musk renewed his criticism Monday after weeks of public silence, shaming lawmakers who support it while vowing to unseat Republicans who vote for it.

“They’ll lose their primary next year if it is the last thing I do on this Earth,” he posted on X, while adding that they “should hang their heads in shame.”

The Tesla and SpaceX CEO also threatened to publish images branding those lawmakers as “liars.”

 

Trump responded on Truth Social by accusing Musk of hypocrisy. “He may get more subsidy than any human being in history,” the president wrote. “Without subsidies, Elon would probably have to close up shop and head back home to South Africa… BIG MONEY TO BE SAVED!!!”

Musk responded by saying that even subsidies to his own companies should be cut.

Before and after the 2024 presidential election, Musk spoke out about government subsidies, including ones for electric vehicles, stating that Tesla would benefit if they were eliminated.

This latest exchange marks a new escalation in the long-running and often unpredictable relationship between the two figures. Musk contributed more than $250 million to Trump’s reelection campaign and was later appointed to lead the Department of Government Efficiency (DOGE), which oversaw the termination of more than 120,000 federal employees.

Musk has argued that Trump’s new bill wipes out DOGE’s savings and reveals a deeper structural problem. “We live in a one-party country – the PORKY PIG PARTY!!” he wrote, arguing that the legislation should be knows as the “DEBT SLAVERY bill” before calling for a new political party “that actually cares about the people.”

In June, Musk deleted several inflammatory posts about the president, including one claiming that Trump was implicated in the Jeffrey Epstein files. He later acknowledged some of his comments “went too far.” Trump, in response, said the apology was “very nice.”

With the bill still under Senate review, the dispute underscores growing pressure on Trump from fiscal hardliners and tech-aligned conservatives – some of whom helped deliver his return to power. Cracks in the coalition may spell longer term problems for the Make America Great Again movement.

Continue Reading

Trending

X