Rich countries' proposal to bypass governments on climate aid rejected.
US-led group wanted to give $100bn a year directly to MNCs for projects to tackle climate change in developing countries.
Efforts by rich countries to give $100bn (£66bn) a year of 'climate aid' direct to companies, bypassing poorer countries' governments, have suffered a setback.
The UN's fledgling Green Climate Fund (GCF) is designed to transfer money in the future from the developed to developing world, to tackle the impacts of climate change, such as floods and droughts.
Papers seen by the Guardian following a tense GCF board meeting in South Korea show that rich countries led by the US, Britain and Australia pushed for the World Bank-administered fund to be able to bypass the governments of poor countries by giving money intended to help them directly to rich countries' companies. Under this scenario, large contracts for climate change adaptation works in developing countries might have been awarded by the fund to international companies rather than to host governments.
They also lobbied hard for the fund to be able to act like an autonomous bank, taking risks, guaranteeing loans, having its own governing body and even being able to speculate with climate funds.
http://www.guardian.co.uk/environment/2013/jul/03/climate-aid-climate-change-fund
What a pack of complete ***ts. The UN may well have picked up this proposed scam from the promised funds from developed nations which never actually reached Haiti for example. That's aside from current issues in Egypt where its become apparent that if aid to Egypt is cut off because of what is easily a clear is a coup there it will advesrsly affect income to the US MIC. Oh dear - what a fucking shame.
please note : No Elephants had posted this elsewhere , possibly on DU2 , but whilst I found it on the mobile while I was out I cannot now find it on the PC