Transparency and Accountability in Public Climate Finance: What Has Been Done? What Is Needed?
2:00 PM - 3:30 PM EDT
Sponsors: Heinrich Boell Foundation, World Resources Institute (WRI)
- Srinivas Krishnaswamy (Director, Vasudha Foundation, India)
- Ari Huhtala (Senior Environmental Specialist, WB)
- Athena Ballesteros (Senior Associate, World Resources Institute)
Just months before the next Conference of Parties of the UN Climate Convention in Cancun, Mexico, various efforts have been made to track and account for climate financing pledges made in December 2009 at the climate talks in Copenhagen for fast-start finance and toward longer-term financing commitments. The World Bank is likewise involved in efforts – such as via its support of the new Dutch Website initiative www.faststartfinance.org – to make transparent the financial flows from developed countries to developing countries for urgent climate action.
This panel will look at current ongoing efforts, by civil society, governments and international organizations such as the World Bank, to provide transparency and accountability in global climate finance flows. What has already been done? What more is needed to give different stakeholders, including civil society, the tools to hold both developed and developing countries accountable for their decisions on the mobilization, administration and disbursement of climate funds? What role could and should the World Bank play in data collection and standard setting?