Contents with tag: climate justice
Despite the woeful inadequacy of funding made available by the North for developing countries to meet climate challenges, donor-controlled climate funds have proliferated in recent years. Among the institutions that have staked a claim in the business of climate finance is the World Bank, which unveiled its Climate Investment Funds (CIFs) in 2008. At over $8 billion, the World Bank’s CIFs and carbon funds are collectively the largest climate-related funds currently managed by any public multilateral institution, dwarfing all of the funds under the UNFCCC.
IBON International will be holding two side-events on climate finance in the coming Durban climate summit. “Improving development effectiveness in climate finance: challenges and opportunities” is an official COP17 side-event. “Financing climate justice: voices from the South” is a side-event in the summit’s alternative space called the “People’s Space.” People from government and civil society are invited to speak. The two side-events are co-organized with several other civil society organizations.