Most countries receiving it aren't democracies and rate poorly in terms of corruption. Accountability should be job one

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By Fred Lazar

In terms of relieving people of their money, Charles Ponzi and Bernie Madoff have nothing on the UN and its subsidiary organizations, like the Intergovernmental Panel on Climate Change (IPCC). The recent UN climate summit, COP29, ended with rich countries promising to transfer $300 billion a year — a year! — to poor countries. One recipient group had the gall to describe this ransom as “too little, too late,” while India’s representative dismissed the money as “a paltry sum.” Three hundred billion. Paltry. Their ask was $1.4 trillion each and every year.

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Accountability didn’t get a lot of attention at COP29 but questions do need to be asked. If the rich countries are foolish enough to actually fulfill their pledges, who will collect the money? The UN? The IPCC? Individual countries’ treasuries? And how will it be distributed? Have we already forgotten the corruption........

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