Recommendation 57

In their paper on climate finance, Roberts et al state that funding is “insecure”, unpredictable and based on a “fragmented institutional architecture” which low- and middle-income countries cannot influence sufficiently.126 In their words: climate funds are funnelled through over 100 channels, very few of which are controlled in meaningful ways by developing nations […]. These include developed countries’ aid and export promotion agencies, private banks, equity funds and corporations, and lending and granting arms of multilateral institutions like the World Bank and regional banks.127