Climate funding unprecedented opportunity for corruption

Minivan News (the Maldives): Climate funding present unprecedented opportunities for corruption as large sums of money flow through new channels from donor nations, Transparency Maldives (TM) has warned. Over US$130 billion in funding for climate change adaption and mitigation projects is predicted to flow into the highly complex aid sector, said TM Project Coordinator Maurifa Hassan, during the local launch of Transparency International’s Global Corruption Report focusing on climate change.

“Those most affected by climate change are those most marginalised,” said Hassan during the launch at Traders Hotel. “Rules of engagement” set by donor nations were “diverse and complicated”, and directing funding to where it was needed most would require strengthening transparency and governance practices. Already, she said, “where carbon markets have been introduced, the rules tend to be set by the market leaders.”

Speaking at the launch, Finance Minister Ahmed Inaz emphasised the importance of ensuring aid investment and expenditure was transparent. “Many islands require immediate and expensive engineering,” he said. “Adaption is costly, and sea walls do not come cheap. Male’s sea wall cost US$17 million, and without the support of Japan we would not have been able to build it.”…