Why Climate Change Is a Lucrative Industry—and Why That’s Concerning

Climate change is a hot topic, but the conversation often misses a crucial point: the battle against it is turning into a money-making scheme. Billions are promised to tackle issues like floods and rising temperatures. Yet, real change seems elusive.

Despite all the pledges, carbon emissions continue to rise. Heatwaves are getting worse, and forests are disappearing. If all this funding was effective, we wouldn’t be facing such dire problems.

So, what’s going wrong? Behind the scenes, a network of officials and consultants are profiting. Many projects designed to combat climate change are little more than words on paper, with hardly any real impact. For example, the Green Climate Fund (GCF) was set up to help vulnerable countries adapt, but reports from Senegal and Peru reveal failures to deliver essential infrastructure and instead serve private interests.

It’s not just a problem abroad. In India, the Compensatory Afforestation Fund (CAMPA) is supposed to plant trees lost to development. Yet, in states like Odisha and Madhya Pradesh, funds meant for planting trees were misallocated to buy office supplies instead. Astonishingly, in some regions, no trees were planted at all.

In Jammu and Kashmir, funds earmarked for disaster management often go to unrelated projects, like road construction. A recent audit showed one in four rupees didn’t support climate safety efforts. Moreover, some climate workshops listed in reports never even occurred.

This pattern extends globally. In Uganda, funds meant for climate action disappeared into bogus expenses. A forensic audit revealed fraudulent activities. Meanwhile, in the Philippines, claims of planting a billion trees were debunked when 88% were found dead or nonexistent.

How does this keep happening? The climate sector has built a wall of protection around itself. Experts and NGOs often use complex jargon like “sustainability” to deflect scrutiny. Although they produce glossy reports, real change is hard to see. When questions arise, critics are labeled anti-science, silencing genuine concerns.

The media, which should be the watchdog, often regurgitates press releases instead of performing in-depth investigations. This creates a cycle where the public remains uninformed about where their money is going.

This situation is not just about the environment. It reveals how power dynamics work. Governments pledge to fight climate change while still approving new coal mines. So-called green energy projects often displace local communities, all in the name of progress.

Even the Intergovernmental Panel on Climate Change (IPCC) faces scrutiny. Some experts argue that the scenarios they present might exaggerate conditions to secure funding, leading to poor decision-making and misallocation of resources.

A recent study in ScienceDirect titled “Impact of Corruption on Climate Risk” highlights how corruption in developing countries amplifies the risk of climate disasters. Funds get diverted, leaving communities vulnerable and unprotected.

We now find ourselves in a precarious situation: the threat of climate change looms large, damaged by both environmental degradation and corruption. It’s time to shift the narrative. We support genuine climate action, but we reject the theatrics. Journalists must strive for accountability. Governments need authentic audits. Citizens should question the real impact of climate spending.

The planet can’t afford empty promises anymore. Transparency and honesty must drive our climate response. Only then can we address the crisis effectively.

Mohammad Younus Bhat is a PhD researcher in Earth Sciences at Pondicherry University.

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