Greedy Corporate Fund or Green Climate Fund

Green Climate Fund was one of the hopes of the developing countries during the last two climate negotiations. It was agreed in COP 16 held in Cancun and had series of negotiations to shape it. However, two questions remain unresolved. Its interim Trustee the World Bank can become the permanent Trustees and there are no provisions to stop that. It also has created a private window which will benefit the greedy corporations. As civil society pointed out both corporations and the World Bank have no rights to engage in a green climate fund.

In most current examples Bankers, Fund managers, companies and the consultants are the beneficiaries of these public funds and not the poor communities or the developing country governments.

Several developed countries including UK are threatening to turn the Green Climate Fund into a Greedy Corporate Fund that would serve the interests of the corporate and financial sectors, instead of financing activities to save the planet and protect the poor in developing countries.

Let the Fund be green and not to serve the corporate greedy.