Join leading experts for the launch of a new report from DI exploring problems with current climate finance reporting and recommendations to strengthen transparency and accountability. What should count towards a New Collective Quantified Goal on Climate Finance, and who should decide?
The diversity of climate finance definitions makes it difficult to know how much donors have truly spent, undermining accountability. As parties to the UN Framework Convention on Climate Change adopt a New Collective Quantified Goal on Climate Finance in 2024, they must agree on what should count towards it.
To what extent might increases in climate finance since 2009 be due to changes in reporting practices? We used a natural language processing model and backcast the results to find out.
We used AI to assess how the World Bank and the UK are recording climate funds. Our model identifies one in five of the Bank's projects as appearing suspicious and warranting further investigation, compared with the UK's one in 50.