SPECIAL FEATURE: AFRICAN CLIMATE FINANCE IN THE SPOTLIGHT AT COP-27 GATHERING

   Wed, 16 November 2022

The world’s primary mechanism to channel climate finance to developing countries is coming under mounting criticism from both wealthier and poorer countries as it fails to meet its primary objectives and remains mired in controversy and scandal. If the United Nations’ Green Climate Fund does not implement structural reforms and accelerate funding on projects, there may be a growing consensus at the COP-27 climate summit in Egypt this month to divert multilateral climate finance to alternative mechanisms, such as Climate Investment Funds or regional development banks.