# A Tale of Four Funds URL: https://www.transparency.org/en/publications/a-tale-of-four-funds Type: Publication or report Published: 2017-11-07 Updated: 2020-04-03 --- 07 November 2017 Climate finance is essential in catalysing global and national efforts to safeguard the environment and people’s lives, and to avoid serious climate change. It involves flows of public money intended to support developing countries to reduce greenhouse gas emissions and adapt to environmental impacts, such as droughts, flooding, and sea level rise. This report examines the best practices regarding the transparency, accountability and integrity policies and standards set by four multilateral trust funds with significant climate finance portfolios: the Adaptation Fund, the Global Environment Facility (GEF), the Climate Investment Funds (CIFs) and the Green Climate Fund (GCF). ### Related publications ## [Regional Assessment of Integrity in Political Finance in South Asia, Southeast Asia and East Asia](https://www.transparency.org/en/publications/integrity-political-finance-asia) Publication • 03 September 2026 This report reviews systems across 17 countries to identify the areas of political finance most in need of reform. ## [Annual Report 2025](https://www.transparency.org/en/publications/annual-report-2025) Publication • 17 July 2026 In 2025, Transparency International pursued its mission to stop corruption and promote transparency, accountability and integrity at all levels and across all sectors of society. ## [Connecting the Dots: How financial intelligence units expose corrupt money flows and how they could do more](https://www.transparency.org/en/publications/connecting-the-dots) Publication • 24 June 2026 Financial intelligence units can play a key role in uncovering corruption, but only if they have the powers, resources and access to information they need. ## [Whistleblowing Authorities in Europe: Roles, challenges and lessons learned](https://www.transparency.org/en/publications/whistleblowing-authorities-in-europe-roles-challenges-and-lessons-learned) Publication • 19 June 2026 This report examines the institutional design, mandates and functioning of national whistleblowing authorities across Europe. ## Priorities - [Climate crisis](https://www.transparency.org/en/our-priorities/climate-crisis) ## Projects - [Climate Governance Integrity Programme](https://www.transparency.org/en/projects/climate-governance-integrity-programme) ![](https://images.transparencycdn.org/images/2017_report_fourfunds_EN_116.jpg?auto=compress&fit=crop&fm=webp&w=1200) [Download](https://images.transparencycdn.org/images/TI_TaleOfFourFunds_vF.2_web.pdf)