Transparency International Bangladesh (TIB) has demanded the announcement of a roadmap for providing compensation money promised by the developed countries to the countries affected by climate change.
Iftekharuzzaman, the executive director of the organization, said on Tuesday, “Developed countries have failed to provide the promised $100 Billion in climate finance every year from 2020 to the affected countries which is a prerequisite for the implementation of the Paris Agreement, including achieving the global temperature target of 1.5 degrees Celsius.”
“They provided only $83.3 billion in the last two years of which at best $20 billion is for Climate Fund.”
He stated, “It was not possible to create a separate fund to deal with the damage at the 2021 climate conference due to the barriers of the developed countries. In addition, they have reduced aid to food security, and environmental and biodiversity conservation programs in affected countries. So, considering the whole picture, Bangladesh and other affected countries have to play a strong role to emphasize climate change adaptation, mitigation and financing in accordance with the Paris Agreement in the upcoming summit.”
“As there is no consensus definition of Climate Finance in the Paris Pact, ‘new’ and ‘additional’ aid is being provided as loans. 70 percent of the total global climate finance disbursed so far has been in the form of loans. Difficult criteria for receiving GCF funding have made it more difficult for the affected nations to access needed climate funding. On the contrary, due to rising temperatures and natural disasters, the $100 billion per year pledged in 2009 is no longer sufficient, as climate funding needs will be $140-300 billion per year by 2030. It is therefore necessary to set new collective targets for financing to meet the growing adaptation and mitigation needs of affected countries.
According to TIB, global warming has increased the frequency of floods, tsunamis, cyclones and wildfires globally. However, the use and export of carbon-emitting fossil fuels, especially coal, has increased and financing for the coal-based energy project has also raised. In view of such a global situation, the 27th Conference of Parties (COP27) of the United Nations Framework Convention on Climate Change is going to be held from November 6 to 18 in Sharm Al-Sheikh, Egypt.
TIB suggested, at this year’s Climate Conference, Bangladesh and other affected countries should convince the developed countries to announce a roadmap for timely delivery of the promised compensation.
TIB has presented a total of 16 demands, divided into two parts – what Bangladesh can raise at the COP27 and what the Bangladesh government can do – for the consideration of the concerned parties to ensure the implementation of the Paris Agreement with the assurance of fairness and transparency in the related activities.
For the Bangladesh government, TIB recommended that the authority should continue to prioritize the challenges of climate change, as well as obligations of tackling the unprecedented energy and economic shock stemming from the Russia-Ukraine war.
It further recommended that risky industrialization activities including coal-based power plants should be phased out to protect livelihoods, forests and environment and natural resources; the proposed Integrated Energy and Power Master Plan – IEPMP with a specific roadmap will strategically prioritize renewable energy; short, medium and long-term timed plans should be adopted to increase the production of renewable energy in Bangladesh.
TIB stressed that all projects related to climate change must ensure good governance, integrity and especially effective measures to control corruption
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