Barely a trickle
Little of the international climate finance pledged reaches the communities that need it. Some have estimated only 1% ends up being effectively spent for positive impact.
This is a well-researched topic, so hardly in the shadows, but the hidden handbrakes are the sheer number of intermediaries/implementing agencies in a delivery chain, often mandated in governance structures, and often reinforced by complex audit, due diligence and fiduciary risk management requirements.
Each entity in the chain takes its share, introduces its bureaucracy and delays, and ensures an already weak flow of finance become barely a trickle. Reform of governance and controls is the target for this research, as well as growing alternative structures that overcome these blockages and demonstrate that a new world is possible.
How stuck is this handbrake?