Climate change: two funds, same money, by Deganit Perez
The United Nations has managed to raise $10 billion to address climate change; that should make it possible to help the developing world reduce its impact and adapt to new environmental conditions.
But the U.N. pot - known as the Green Climate Fund - is now facing competition from a similar fund at the World Bank. The Climate Investment Fund was only meant to act as an interim trustee, administering money earmarked to combat climate change while the U.N.’s fund got underway. [#st]