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Poor nations ‘lose $1 tn in dirty money’ – Americas – Al Jazeera English

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Poor nations ‘lose $1 tn in dirty money’ – Americas – Al Jazeera English.

Developing countries are losing nearly a trillion dollars to crime and corruption, with the disappearance of dirty money hitting some of the world’s poorest regions hardest, a new report has found.

A record $991bn in unrecorded funds left 151 developing and emerging economies in 2012, up nearly five percent from a year earlier, a US-based watchdog that exposes financial corruption said on Monday.

Global Financial Integrity (GFI) found that, between 2003 and 2012, the estimated amount of illicit funds shifted from developing countries totalled $6.6tn and rose at an inflation-adjusted 9.4 percent a year – roughly double global GDP growth…

Renewable Energy: The Untold Story of an African Revolution

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Renewable Energy: The Untold Story of an African Revolution.

“There is a revolution going on in the continent of Africa and the world is not noticing it. You can go to Egypt, Ethiopia Kenya, Namibia, and Mozambique. I think we will see renewable energy being the answer to Africa’s energy problems in the next fifteen years,” Steiner said in an interview with IPS.

Sharing the example of the UNEP headquarters in Nairobi, Kenya, Steiner told IPS that the decision was taken that “if UNEP is going to be centred with its offices in the African continent on the Equator, there can be reason why we are not using renewable energy. So we installed photovoltaic panels on our roof which we share with UN Habitat, 1200 people, and we produce 750,000 kilowatt hours of electricity every year, that is enough for the entire building to operate.”

He noted that although it will take UNEP between eight and 10 years to pay off the installation, UNEP will have over 13 years of electricity without paying monthly or annual power bills. “It is the best business proposition that a U.N. body has ever made in terms of paying for electricity for a building,” he said.

According to Steiner, the “revolution” is already happening in East Africa, especially in Kenya and Ethiopia which are both targeting renewable energy, especially geothermal energy.

“Kenya plans to triple its electricity generation up to about 6000 megawatts in the next five years. More than 90 percent of the planned power is to come from geothermal, solar and wind power,” he said…

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