Transparency International to Rio+20: Address Corruption in Climate Financing

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Keywords: Environment and Climate Change | Agenda 21 | Climate Finance | Corruption | Corruption Perception Index | Kenya | Rio+20 | Samuel Kimeu | Sustainable Finance | The Future We Want | Transparency

Transparency International to Rio+20: Address Corruption in Climate Financing

With Rio+20 around the corner, the leading international development corruption monitoring group warns of failure if mechanisms for climate financing transparency are not put into place
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Friday, May 11, 2012 - 3:45pm

According to the United Nations' 2011 World Economic and Social Survey, an "incremental green investment of about 3 percent of world gross product (WGP) (about $1.9 trillion in 2010) would be required to overcome poverty, increase food production to eradicate hunger without degrading land and water resources, and avert the climate change catastrophe."[1] The report asserts that at least 50 percent of the total investment must be made in developing countries.

Clearly, it has been and will continue to be a huge challenge to regularly raise that amount for climate investments, but another pressing challenge is dealing with the kind of high-level governmental and private sector corruption that accompanies such staggering sums.

RIO+20: WHY ISN'T CORRUPTION ON THE AGENDA?

In "The Future We Want," the zero draft of the outcome document for the Rio+20 United Nations Conference on Sustainable Development in June, the word "corruption" is never mentioned. The word "transparency" appears only once, on page 8: "The strengthening and reform of the institutional framework should, among other things: a) Integrate the three pillars of sustainable development and promote the implementation of Agenda 21 and related outcomes, consistent with the principles of universality, democracy, transparency, cost-effectiveness and accountability, keeping in mind the Rio Principles, in particular common but differentiated responsibilities."[2]

As delegates prepare for Rio, should corruption in climate financing be added to the agenda? That's exactly what Samuel Kimeu is calling for. Kimeu is the executive director of the Kenyan branch of Transparency International, a civil society organization that monitors corruption in the halls of governments and the boardrooms of corporations.

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Reynard is a Justmeans staff writer for Sustainable Finance and Corporate Social Responsibility. A former media executive with 15 years experience in the private and non-profit sectors, Reynard is the co-founder of MomenTech, a New York-based experimental production studio that explores transnational progressivism, neo-nomadism, post-humanism and futurism. He is also author of the blog 13.7 Billion Years, covering cosmology, biodiversity, animal welfare, conservation and ethical consumption. He is currently developing the Underground Desert Living Unit (UDLU), a sustainable single-family dwelling envisioned as a potential adaptation response to the future loss of human habitat due to the effects of anthropogenic climate change. Reynard is also a contributing author of "Biomes and Ecosystems," a comprehensive reference encyclopedia of the Earth's key biological and geographic classifications, to be published by Salem Press in 2013.