Just a few days ago, the European Investment Bank (EIB), the financing arm of the EU and its 27 member countries, formally joined the ranks of other multilateral development banks and the World Bank  in creating its own climate change fund — thus contributing to the proliferation of new climate funds, supporting the claim of other development organizations to be best equipped to manage large climate financing sums and thereby further undermining a future leadership role of the UNFCCC and its  financing mechanisms in the emerging global climate finance architecture.

To read the full article, visit the web blog ClimatEquity