Director-General/Executive Director
Excellencies,
Distinguished Ministers,
Ladies and gentlemen,
Thank you all for joining us today to discuss the impact of corruption on our Global Goals and their financing.
I would like to extend my gratitude to our co-host, the World Bank, and our co-organizers, the Governments of Brazil, Colombia, the Dominican Republic, Egypt, Norway, and the United Arab Emirates, along with UNDP, the IMF, the Green Climate Fund, the UNCAC Coalition, and Transparency International.
The Summit of the Future offers an important platform to come together to act on today’s most pressing challenges and priorities.
In COP27 in Sharm-El-Sheikh and COP 28 in the UAE, securing financing for development for climate action was high among the priorities.
The world faces multiple crises, the SDGs slip further out of reach, and our planet continues to suffer the consequences of our actions.
We know that global temperatures are rising at alarming speed, with 2024 set to be the hottest year in recorded history.
We know that more than 120 million people have been forcibly displaced due to conflict, crisis, and climate emergencies.
And we know that it could take more than two centuries to end global poverty according to the NGO Oxfam.
Amid these mounting challenges, corruption is the threat that hides in the shadows, hindering our response to global crises and distorting our efforts to rescue our planet and to create a more just, resilient, and equitable future.
Corruption siphons billions away from urgent global action and towards private gain.
And every penny lost is a penny needed.
The numbers are clear.
According to UN estimates, the world is facing an investment gap of more than $4 trillion annually to achieve the sustainable development goals.
And trillions of dollars are further needed to implement developing countries’ climate action plans by 2030.
Corruption is draining funds that could be invested in ending hunger, protecting ecosystems, advancing clean energy, and responding to the growing frequency of climate disasters such as droughts, fires and floodings.
And there are heightened concerns around corrupt practices slowing or distorting the introduction of clean energy initiatives. Some are by governments, some are by the private sector companies.
In the transition to a green economy, some companies use corruption as means to benefit from the improper allocation of climate subsidies and are taking advantage of weak procurement regulations to influence contracts and avoid penalties.
Such subsidies need to be managed in full transparency and monitored closely.
There is also a lack of consistent regulation in carbon trading.
This is of special concern, as the global carbon credits market is growing at breakneck speed.
It was valued at 2 billion dollars in 2022 and projected to surpass 143 billion by 2032 according to the World Bank.
And the dangers of corruption extend beyond lost funds.
The impact of corruption on climate action is profound and widespread, ranging from bribery, conflict of interest, and fraud to embezzlement and illicit enrichment.
These crimes weaken the rule of law and damage public trust in governments at a time when social cohesion and cooperation is needed more than ever.
The impact of corruption on our climate and development goals is devastating. But it is not inevitable.
Excellencies,
Protecting investments in our shared future requires strong transparency and accountability frameworks, and robust prevention.
The good news is that emerging anti-corruption tools and guidance can help safeguard sustainable development and climate investments.
UNODC and the World Bank, along with other partners, have produced two reports, highlighting corruption risks linked to climate change and sustainable development, and providing suggestions to prevent and address these crimes.
Recommendations include adopting conflict of interest legislation and increasing disclosure and access to information in public procurement.
To win the fight against corruption, governments must work together with businesses and civil society to create an environment that rewards integrity and ends impunity.
Last year, we co-hosted the first ever Private Sector Forum at the Conference of States Parties to the UN Convention against Corruption, in partnership with the UN Global Compact.
During the Conference, 500 companies from 91 countries presented a call to action, urging governments to intensify and reward anti-corruption efforts.
And governments responded to that call, with 190 countries committing to adopt incentives for business integrity.
This type of multi-stakeholder dialogue on anti-corruption should be included at this year’s UN Climate Change Conference in Azerbaijan, COP 29, and to build on previous efforts.
Moving forward, governments must integrate anti-corruption measures into all national and international climate strategies, working hand-in-hand with civil society and the private sector.
This includes improved transparency and accountability frameworks, legislation to reduce loopholes, and initiating programs to increase public participation and private sector leadership in sustainable development and climate goals.
Ladies and gentlemen,
Corruption is a problem that concerns us all.
To fulfill the Pact for the Future, rescue the SDGs, and meet our urgent climate goals, we must counter these crimes at every level, from the street to the boardroom, to the highest government offices.
The future of people and the planet depend on it.
To echo the UN Secretary-General, “The need for action is unprecedented but so is the opportunity – not just to deliver on climate, but on economic prosperity and sustainable development.”
Thank you.
