Bangladesh can do a lot in combating the climate change effects if proper financial support is ensured. The country is implementing a good number of projects with its own fund to face the adverse effects of climate change.
About USD 490 million or Tk 3852 crore have been allocated from the Bangladesh Climate Change Trust Fund established in 2009 up to the financial year 2020-21, according to government information.
With the money of this fund, various ministries, government offices, organizations and various institutions are implementing more than 850 projects. Bangladesh will be able to work more vigorously to combat climate change effects if it receives sufficient foreign aid.
Environment, Forest and Climate Change Minister Md Shahab Uddin said this while addressing as the chief guest the Shadow Parliament debate competition titled “Cop-27 Could Not Reflect the Expectations of Climate Affected Countries” organized by Debate for Democracy at Bangladesh Film Development Corporation on Saturday.
The Environment Minister said, “Although there are some limitations in this conference, we can see the light of hope. According to this decision, climate-affected countries like Bangladesh must be compensated by developed countries. The commitment to pay $100 billion per year to meet the target must be fully implemented. This year's Climate Conference decided to create a Loss and Damage Fund, but the source of funding has not been determined, which needs to be done urgently”.
The minister said that 230 billion US dollars are needed to implement Bangladesh's Climate Adaptation Plan (NAP). 21.85 percent of greenhouse gas emissions will be reduced by 2030 through the implementation of Bangladesh's Nationally Determined Contribution or NDC to reduce greenhouse gas emissions if sufficient foreign aid is received.
Debaters from Bangladesh University of Business and Technology and Stamford University Bangladesh participated in the shadow parliament debate competition held under the chairmanship of Debate for Democracy Chairman Hasan Ahmed Chowdhury Kiran. Bangladesh University of Business and Technology team won the debate. Later, the minister gave away prizes to the winning team.