Scrutiny has intensified over the World Bank’s handling of climate funds, with a recent report by Oxfam revealing that between $24 billion and $41 billion in climate finance disbursed by the Bank over the past seven years remains unaccounted for.

This staggering amount, equivalent to nearly 40% of all climate funds disbursed by the Bank during this period, raises serious questions about transparency and accountability.

The World Bank has pledged over $100 billion to combat climate change, but a new report by Oxfam found that up to $41 billion of this spending is “effectively unaccounted for” due to poor record-keeping by the World Bank.

A World Bank insider, speaking on condition of anonymity, suggested the figure for the missing money “could be twice or 10 times more.”

“All the figures are routinely made up,” the source said. “Nobody has a clue about who spends what.”

Oxfam’s report, titled ‘Climate Finance Unchecked’, was published on 17 October ahead of COP29 in Azerbaijan which is currently taking place, and during which climate finance is taking centre stage.

The report alleges that the World Bank’s current approach to tracking climate finance is flawed and makes it impossible to verify its expenditures and impact.  Specifically, the Bank’s accounting system, which tracks climate finance at the time of project approval rather than project completion, makes it difficult to verify how funds were spent.

Oxfam’s investigation revealed that obtaining even basic information on how the World Bank is using climate finance was painstaking and difficult.

“We had to sift through layers of complex and incomplete reports, and even then, the data was full of gaps and inconsistencies. The fact that this information is so hard to access and understand is alarming – it shouldn’t take a team of professional researchers to figure out how billions of dollars meant for climate action are being spent. This should be transparent and accessible to everyone, most importantly communities who are meant to benefit from climate finance,” Kate Donald, Head of Oxfam International’s Washington D.C. Office, said.

The World Bank’s centrality to climate finance makes its lack of transparency all the more troublesome, according to Oxfam, which argues that the bank’s claims of ambition are impossible to verify without more precise and transparent accounting methods.

Oxfam estimates that the difference between budgeted and actual expenditures on climate finance amounts to tens of billions of dollars over six years. And the World Bank’s opacity in accounting methods has led to concerns about mismanagement, corruption and the potential diversion of funds away from their intended purpose.

Oxfam’s findings have sparked calls for reform, with demands for the World Bank to improve its record-keeping practices and provide greater transparency and accountability. As the international community gathers at COP29, the need for robust climate finance tracking and reporting has never been more pressing.

Calls for reform are growing, with demands for improved transparency and accountability from the World Bank.

Source:  https://expose-news.com/2024/11/17/scrutiny-of-world-bank-intensifies/

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A new report by Oxfam, “Climate Finance Unchecked,” has determined that the World Bank has $41 billion in unaccounted funds that were destined to fight climate change.

This figure represents 40% of all disbursed climate funds by the World Bank. Oxfam’s audit revealed that between 2017 and 2023, between $24 billion and $41 billion simply went unaccounted for and there is absolutely no record of where the money went. No one knows how the money was used as there is no paper trail revealing where the money went.

“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,” said Kate Donald, Head of Oxfam International’s Washington D.C. Office. “This is like asking your doctor to assess your diet only by looking at your grocery list, without ever checking what actually ends up in your fridge.”

The World Bank is a leader in climate finance, controlling 52% of the total flow from all multilateral banks combined. World Bank President Ajay Banga announced in December that the bank achieved 35% of its financing three years ahead of schedule. He then set a new target of 45% by 2025. The bank later said in September that it achieved 44% of climate financing to the tune of $42.6 billion. “We’re putting our ambition in overdrive,” Banga said.

The bank acknowledged that it was difficult to keep track of its 800 climate financing projects but offered no insight into the missing funds. “It is clear that no one — including the Bank — has any real idea of how many billions of dollars are going to which climate actions,” the Oxfam report said.

Yet, climate activists are demanding $5 trillion in ANNUAL financing for the Global South to pay toward climate debt. Where did the $41 billion go? That large of a sum simply cannot be lost in a mere paperwork or oversight error. The climate change agenda has become a slush fund for the elite who will continue to fund this agenda without taking any responsibility for where the funds go or if they’re actually altering the climate in any meaningful way.

Source:  https://www.armstrongeconomics.com/world-news/climate/world-bank-missing-41-billion-in-climate-funds/

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The World Bank has created a global pandemic fund, the largest fund in its history.  At the same time, preparations to implement the World Health Organisation’s Pandemic Treaty marches forward. 

We recently published an article about G-20 leaders calling for the establishment of global vaccine passports.  In it, we included remarks by Indonesian Health Minister Budi Gunadi Sadikin on 13 November, from Day 1 of B20 Indonesia 2022. “G20 country has agreed to have this digital certificate using WHO standard,” Sadikin said

Earlier in his remarks, he mentioned that the global pandemic fund is the largest fund the World Bank has ever created and it will increase in the next 5-10 years.  Less than two weeks later, on 25 November, the Intergovernmental Negotiating Body (“INB”) quietly published 7 documents, one of which was a ‘Conceptual zero draft’ of the World Health Organisation’s (“WHO’s”) proposed Pandemic Treaty.

WHO’s Pandemic Treaty is nothing more than a gigantic marketing and promotional campaign designed to expand the reach, power and profits of Big Pharma, James Roguski said. Roguski is an activist who investigates WHO and has been following developments closely.

Indonesia’s G20 presidency began on 1 December 2021, leading up to the summit in the fourth quarter of 2022. The G20 is made up of 19 countries and the European Union.  In its presidency, Indonesia focused on “three main pillars”: global health architecture; sustainable energy transition; and digital transformation. In his opening remarks on Day 1, Sadikin summarised what Indonesia’s presidency had achieved:

“I’d like to share with you what our Indonesia Health sector has achieved in the G20 presidency and what are the business opportunities for you. The first one, we, with the Ministry of Finance G20, achieved to establish the global pandemic fund 1.4 billion US dollars has been pledged from 24 institutions. Clear result. And this is the largest [fund] ever in World Bank has ever created. so hopefully in the next five years, 10 years, it will increase the size of the fund to 10 billion US dollars.”

The above is clipped from B20 Summit Indonesia 2022 | Day 1.  You can watch Sadikin’s full remarks HERE  (begin timestamp 1:17:43 and end at 1:29:31).

The following is an adaptation of James Roguski’s article ‘Pandemic Treaty Update’ published on 26 November 2022.

INB will be meeting for the third time on Monday, Tuesday and Wednesday, 5-7 December 2022.  It is unclear as to whether or not they will be live-streaming their meetings.

On 25 November 2022, the INB published the seven (7) documents listed below on their nearly invisible web page:

1. Provisional agenda
2. Draft programme of work
3. Conceptual zero draft for the consideration of the Intergovernmental Negotiating Body at its third meeting *
4. Proposal by the Bureau on an updated timeline and deliverables, development of the zero draft of the WHO CA+, and establishment of drafting group modalities
5. Summaries of regional committee discussions on the working draft Report by the Secretariat
6. Informal, focused consultations Report by the Bureau of the Intergovernmental Negotiating Body
7. Outcomes of the second round of public hearings Report by the Secretariat

Of the seven documents, the most important is the official version of the “Conceptual Zero Draft” of the proposed “Pandemic Treaty.”

Note: James Roguski obtained and published an advance copy of this draft. “I believe that the official copy is the same as the advance copy,” he wrote. You can read his article and a copy of the draft HERE.  At the end of his latest article, Roguski gave a five-minute audio summary of the draft document and the Pandemic Treaty which has been renamed in the draft as “WHO CA+.”  The draft doesn’t define the acronym, but Roguski has guessed it most likely is an abbreviation for “World Health Organisation Convention Agreement and more” – WHO CA+

In another relevant article, read HERE, Roguski described how WHO’s Pandemic Treaty is nothing more than a gigantic marketing and promotional campaign designed to expand the reach, power and profits of Big Pharma.

He also advises readers to watch two of his interviews:

• James Roguski and The Big Problem with the Pandemic Treaty on Odysee, 23 November 2022 (33 mins)
• Global Fascism with James Roguski and Jason Bermas on Rumble, 25 November 2022 (60 mins)

Documents 5, 6 and 7 are summaries of events that have already happened. The next most important document is the updated timeline (schedule):

The above schedule is regarding the proposed Pandemic Treaty.

The schedule in the table below is regarding the proposed amendments to the International Health Regulations.

Source Link: https://expose-news.com/2022/12/04/preparations-to-implement-whos-pandemic-treaty/

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