The developed world must shoulder the vast majority of the cost of adapting to climate change

Is there a single country on the entire planet devoid of corruption in the government? NO.

"All though, from experience, because of wasteful spending and graft, I would not want such a compensation for developing nations, especially African leaders. Except of course if the impact of the compensation would be felt directly by the masses, other wise, NO!"- NO!"-  
 
it is the financiers' responsibility to make sure the funds that they provide are used wisely.
Saying we paid for it , and don't know where the money went is no excuse for the fact that the developed world has mostly/greatly/hugely contributed(and continues to contribute to) ) to the current climate crisis and owes the rest of the world incentive and compensation.

If a sponsor gives a student funds,then it is the responsibility of that same sponsor to keep track of those funds, to wrangle the student every time he or she shows signs of under-performing or indolence or lavish irresponsible spending.

Experience has shown that developed nations are generally fairly irresponsible about where their money is going and need to change/reform their attitude towards and choice of beneficiaries.

Morally if there is going to be a progress in achieving carbon reduction, Rich Nations have a great lots of role to play. Over 90 % of carbon emissions comes from the developed nations, the majority of the impact of climate change if felt directly by the developing nations. They, rich nations, have the financial muscle, resources, technology, and the political and economic will to lessen the impact of climate change on their peoples, a reality that third world countries lack. So, majority of the efforts geared towards a carbon reduction must be borne by the rich nations. It would also not be misplaced argument if rich nations pay compensation for the damages of climate change felt by developing nations.

All though, from experience, because of wasteful spending and graft, I would not want such a compensation for developing nations, especially African leaders. Except of course if the impact of the compensation would be felt directly by the masses, other wise, NO!

Such corruption means that an adaption fund is not the best way to go. Adaption and mitigating against climate change is going to mean big infrastructure projects - projects to create renewable energy, sea walls, flood defences, large internal movements requiring the building of new homes and infrastructure. These kind of big projects have always been especially prone to corruption. They never get completed and all the funds find their way into the hands of the wealthy elite.

There needs to be another way.