Morrissey, James

Oxfam finds that for World Bank projects, many things can change during implementation. On average, actual expenditures on the Bank’s projects differ from budgeted amounts by 26–43% above or below the claimed climate finance. Across the entire climate finance portfolio, between 2017 and 2023, this difference amounts to US$24.28–US$41.32 billion. No information is available about […]

Despite being the largest multilateral provider of climate finance, the World Bank supplies very little evidence to support its claims about the amount of climate finance it provides. Oxfam has attempted to recreate the Bank’s reported climate finance figures using public information for projects in the Bank’s FY2020. Oxfam found that the Bank’s current climate finance reporting processes […]

Carbon pricing is not a new phenomenon. Backed by widespread consensus in the economic literature that it is the single most effective policy for addressing climate change, it has been the staple policy priority of many environmental non-governmental organizations (NGOs). Yet carbon pricing has seen limited uptake. Efforts to price carbon have failed in a […]