Opinion: Fighting climate finance corruption is everyone’s responsibility

Some leaders and nongovernmental organizations in lower-income countries view climate finance as a cash cow to be milked — and corruption has a real negative impact on climate mitigation and adaptation. It is the responsibility of both donors and recipient countries to ensure the effective and transparent use of climate finance for meaningful impact.

The industrialized world has pledged financial support to assist low- and middle-income countries in combating climate change. The first responsibility lies with the donors themselves — governments, development finance institutions, or multilateral development banks — to ensure that the funds allocated for climate finance are used appropriately.

Donors must exercise due diligence to track and monitor the flow of funds to guarantee that every penny is spent on climate-related initiatives. Transparency and accountability are paramount to prevent the exploitation of climate finance for other purposes.