# Corruption-free climate finance: Strengthening multilateral funds URL: https://www.transparency.org/en/publications/corruption-free-climate-finance-strengthening-multilateral-funds Type: Publication or report Published: 2022-04-20 Updated: 2022-04-20 --- 20 April 2022 The world has witnessed a vast increase in climate funding in recent years, with sums expected to grow every year as much more is still needed. In 2018, investment in climate action was estimated at [US$546 billion](https://www.climatepolicyinitiative.org/wp-content/uploads/2019/11/2019-Global-Landscape-of-Climate-Finance.pdf). Yet the effectiveness of what this funding can achieve is threatened by corruption, which finds fertile ground when vast sums of money are involved. Thus, standards of governance in climate finance will be a critical indicator in determining how effective climate funds will be in safeguarding the earth’s climate and environment. This report – a follow-up assessment to the 2017 [A Tale of Four Funds](https://www.transparency.org/en/publications/a-tale-of-four-funds) report – reviews the governance frameworks of the Adaptation Fund, the Climate Investment Funds, the Global Environment Facility, the Green Climate Fund and the Central Africa Forest Initiative. Together, these five funds have US$40 billion in pledged commitments for climate action investment. We assessed them in four areas of governance - **integrity, accountability, transparency and methods for assessing policy effectiveness** - and examined the funds’ requirements for their implementing entities in these areas. The findings and recommendations in this report highlight the areas of governance where the funds are doing well and where they have room for improvement. By actively and explicitly bringing integrity, transparency, accountability, inclusiveness and zero tolerance of corruption into climate funding and action, multilateral funds can maximise the effectiveness of mitigation and adaptation programmes. The highest standards in these areas strengthen anti-corruption inputs, such as participatory policy dialogue and training, improved lobbying practices, better laws and policies, open data, monitoring and reporting mechanisms, and whistleblower protection. Only by preventing corruption can climate practitioners and stakeholders ensure maximum effectiveness of the world’s climate funding and adaptation programmes. Countries receiving climate finance desperately need and deserve it. The recommendations we propose will build trust in the power of climate finance, ultimately increasing the funding delivered to those who need it most. ### 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/climate-funds-cover2.PNG?auto=compress&fit=crop&fm=webp&w=1200) [Download](https://images.transparencycdn.org/images/220406_TI_Report_Corruption_free_climate_finance.pdf)