41 billion of it is world. and 41 billion of it is god knows where. i mean, absolutely appalling. >> i mean, you know, an absolute lack of trust and transparency and goodness knows where we go to from here. >> let's hope they sort it out. but i mean, put it in context. so oxfam did the report looking at it from 2017 to 2023. and what we're looking at is the amount of money that was said in project financing as it was prepared, that was going to be spent on climate finance compared to then what is able to be shown to be spent on climate finance afterwards. >> but why is that actually important? i mean, it's important? i mean, it's important because we've got a big issue that we need to deal with. vast amounts of money are now being dedicated to dealing with it. and we've seen the un actually suggesting that over the next, you know, we're going to have to up the amount we're spending on it by 10 to 18 times, potentially up to 387 billion us per year. it's a lot of money. and if we're going to lose 40% of that because we've got no idea whether it's being spent or not, it's clearly not being effective. and we've got a cop coming up where it's focusing on climate finance and making sure it gets to the right

places. >> i mean, basically this climate finance is it's sort of this countries around the world. this is not somebody just bunging a grant at them and, you know, waiting for what's going to happen with it. >> but you are waiting for a return and you know, your average punter in western countries say this country, looking at this headline that

$41 billion is unaccounted for , $41 billion is unaccounted for, they're going to not want to go along with this ride for .net zero and helping out other countries if they think their money's just being squandered or just lost. >> i mean, come to the ride on net zero in a sec if we've got a thing. but the point is in this is it's meant to be financing projects that end up putting the money back. so we're meant to be getting the money back, and then it goes on funding projects. and in fact, one of the stated goals of the world development bank is actually to make sure that it's crowdfunding in private finance. so this is about doing not only just grant money, which it isn't. it's actually about crowding in private financing. >> do we know how much is public money, taxpayers money versus private finance? >> look, i'm not an expert on the world bank, but roughly 75% of its financing is coming from the countries that are members of it. so and obviously, that's coming from the more developed, ficher coming from the more developed, richer countries. and the other 25% is earned through bonds and other commercial activities. but let's just come on to this other issue of the net zero issue. from our point of view, it's a vast money making opportunity for britain. we are well placed both with the city, our technological advantages and our positioning in terms of our

economy. even one of the sixth largest economies of the world, we should be leading this. people should not be holding us back. there are two big things that are happening in the world i okay, and getting to zero net with 93% now of world economies dedicated at getting there, this is an opportunity that britain should be grabbing, moving forward and making money out of it. if we're making more money, we could also then contribute more to things like the world bank, which are meant to be commercial. >> in that case, should we just sidestep the world bank system where they seem to lose tens of billions of dollars and instead, why don't why isn't it just a british hydroelectric dam that we create in an african country, or is that seen as too colonialist? >> it sounds a bit, doesn't it? >> it sounds a bit, doesn't it? >> it sounds a bit, doesn't it? >> i have to say, i think at the moment what we're talking about is if this can't be tracked, if we don't know where it's going, i think you're probably on the right track and we should start targeting that money at things where we really think it's going to make a difference, and particularly things that are linking to that commercial opportunity in all these countries. for the people there, as well as for britain. but at the moment it's not being

tracked. so this report is about we don't know where it's going. so we don't know what's being spent. and there's a big hole that needs to be sorted out. we need to find out the statistics and then the recommendations of oxfam to make sure it doesn't and then the recommendations of oxfam to make sure it doesn't happen again is more detail when happen again is more detail when you're financing a project in you're financing a project in the first place. so we know the first place. so we know exactly what the money is being exactly what the money is being spent on more detail. when spent on more detail. when you've finished it, you'd think you've finished it, you'd think they were doing this already , so they were doing this already , so they were doing this already, so we know exactly what it was they were doing this already, so we know exactly what it was spent on. and then a publicly spent on. and then a publicly searchable database so that we searchable database so that we can go and see what happened can go and see what happened with it. i mean, is it in their with it. i mean, is it in their interest to be vague, maybe interest to be vague, maybe about where exactly the money is about where exactly the money is going to and how much it's bringing back? jj back? >> are these investment projects bringing back? >> are these investment projects actually not bringing a return? actually not bringing a return? is that the issue here? is that the issue here? >> i mean, i'm sure that just >> i mean, i'm sure that just like every bank, some some, you like every bank, some some, you know, loans don't come in. know, loans don't come in. that's absolutely normal. i mean, that's absolutely normal. i mean, the board, remember, is us. so the board, remember, is us. so the board, remember, is us. so the board, remember, is us. so the board, remember, is us. so the board, remember, is us. so the board is all those member the board is all those member countries that are on it. so we countries that are on it. so we make our own decisions when we make our own decisions when we turn up to that general meeting, turn up to that general meeting, we appoint our executives and we we appoint our executives and we do the direction of the bank. do the direction of the bank. >> well, let's hope we can get >> well, let's hope we can get to the bottom of it soon. editor to the bottom of it soon. editor general. leader of the climate general. leader of the climate party. thanks so much for party. thanks so much for that of

joining us. >> yes. up next, kamala harris joining us. >> yes. up next, kamala harris stumbles in the us presidential stumbles in the us presidential race after what some are saying race after what some are saying was a disastrous fox news was a disastrous fox news interview. can donald trump interview. can donald trump capitalise on this ? capitalise on this ? capitalise on this? >> very good afternoon to you capitalise on this? >> very good afternoon to you from the newsroom. it is 234 and from the newsroom. it is 234 and we'll start with a recap of that we'll start with a recap of that breaking news. we brought you in breaking news. we the last half hour or so that the last half hour or so that the israeli military is currently, they say, investigating the possibility that it has killed the hamas leader, yahya sinwar, in an operation in gaza targeting three militants. in a statement released recently, the idf said that the identities of those killed in that attack are at this stage. yet to be confirmed. they also say there were no indications of any israeli hostages present at the site of

we'll start with a recap of that breaking ran s. we we'll start with a recap of that breaking ran impromptu vigil to flowers in an impromptu vigil to pay flowers in an impromptu vigil to pay tribute to him . liam, of pay tribute to him. liam, of course, rose to fame as part of one direction, one of the biggest pop groups in the world, before their indefinite hiatus in 2016. thousands of uk troops

are being put on standby to deploy to estonia's border with russia, as part of a crucial new agreement signed by the defence secretary, john healey, today. it means the army's fourth brigade will remain on high readiness to defend against rising tensions from the ongoing war in ukraine. currently, about 1000 british soldiers are in estonia and if called upon, the fourth brigade would arrive within ten days, equipped with advanced tanks and missile systems. as nato ministers have been gathering in brussels today, the defence secretary said the new deal 1513 00:07:34,776 --> 00