Environment, Forest and Climate Change Minister Md Shahab Uddin has said Bangladesh at COP27 called upon developed countries to double adaptation financing to developing countries by 2025.
“In addition, they were 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 the country statement placed by Bangladesh at the High Level Segment, the minister said, there is a strong call for achieving significant progress in the “New Collective Quantified Goal on Climate Finance” negotiations, BSS reported.
It aims at securing $100 billion per year until 2025 and long-term climate finances, he said, adding that Bangladesh played an effective and strong role on behalf of least developed countries at the climate conference.
The 197 member states of the UNFCCC reached a consensus on important issues, including the adoption of the Sharm El Sheikh Implementation Plan on the morning of November 20 after long discussions.
The minister said the conference decided to create a new fund to address loss and damage in the most vulnerable developing countries. A transitional committee was set up for COP28 to operationalize the fund and fix its detailed arrangements.
The minister also said a decision was taken to finalize 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 $230 million had been pledged to the adaptation fund.
In addition, he said, UN Secretary-General Antonio Guterres announced a $3.1 billion plan, to be implemented over the next five years, to protect everyone on earth through early warning systems.
Shahab Uddin said the Sharm El 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 success will depend on proper implementation.
“We hope that the industrialized 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 of the Parliamentary Standing Committee Saber Hossain Chowdhury and Additional Secretary (Climate Change) Md Moniruzzaman.
