Up to $41 billion of the funds distributed to climate causes by the World Bank between 2017 and 2023 are unaccounted for due to poor accounting standards, according to an audit from Oxfam International published Thursday.
The enormous sum represents almost 40% of the climate funds the Bank disbursed during the seven year time period, with World Bank data failing to show the recipients and uses of the money, the Oxfam investigation found. (RELATED: Biden’s World Bank Head Promises To Spend ‘As Much As We Possibly Can’ On Climate Change)
“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,” Kate Donald, head of Oxfam International’s Washington D.C. Office, said in the release. “This is like asking your doctor to assess your diet only by looking…
