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‘Developed nations asked to double adaptation fund by 2025’

Published : 29 Nov 2022 10:03 PM | Updated : 30 Nov 2022 03:51 PM

Environment, Forest and Climate Change Minister Md Shahab Uddin on Tuesday said Bangladesh at COP-27 called upon the developed countries to double adaptation financing to developing countries by 2025.

“In addition, it was requested to establish a financing mechanism to avoid, reduce and address 'loss and damage' induced by climate change,” he told a workshop titled "27th World Climate Conference (COP 27): Expectations and Achievements and Future Action Plan" at the auditorium of the Department of Environment (DoE) in Dhaka.

The minister said in the 'Country Statement' provided by Bangladesh in the 'High Level Segment', there is a strong call for achieving significant progress in the 'New Collective Quantified Goal on Climate Finance' negotiations with the aim of securing US$ 100 billion per year until 2025 and securing long-term climate finance.

He said Bangladesh played an effective and strong role on behalf of least developed countries at the recently concluded United Nations Climate Conference COP-27.

The 197 member states of the UNFCCC reached a consensus on important issues including the adoption of the 'Sharm Al Sheikh Implementation Plan' on the morning of November 20 after long discussions, Shahab Uddin said.

 He said the conference decided to create a new fund to address "loss and damage" in the most vulnerable developing countries.  A 'Transitional Committee' has been set up for COP-28 to 'Operationalise' the Fund and fix its 'Detail Arrangements'.

The minister also said a decision was taken to finalise 'Loss and Damage' in the conference, decide its host and form an advisory committee.  

Countries have agreed to take action on the 'Global Goals on Adaptation', the minister said, adding that US$ 230 million have been pledged to the 'Adaptation Fund'.

 In addition,  he said , UN Secretary-General Antonio Guterres announced a US$ 3.1 billion plan over the next five years to protect everyone on earth through early warning systems.

Shahab Uddin said "Sharm Al Sheikh Implementation Plan" has been accepted with congratulations by all the countries of the world, including the decision to form a new fund to address "Loss and Damage" in the more vulnerable developing countries like Bangladesh, but its successful implementation will depend on its proper implementation.  

“We hope that the industrialised countries will be more proactive in dealing with the adverse impacts of climate change,” he said.

Chaired by Environment, Forest and Climate Change Secretary Dr Farhina Ahmed, the meeting was addressed, among others, by Deputy Minister for Environment, Forest and Climate Change Habibun Nahar and chairman on Parliamentary Standing Committee on the ministry Saber Hossain Chowdhury and Additional Secretary (Climate Change) Md Moniruzzaman.

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