Climate financing will be crucial in the coming years
Recently, tens of thousands of students across the world took to the streets to demand urgent action on climate change.
Indeed, many young people in Bangladesh also came out in support of the climate strike, and that is no surprise -- when it comes to climate change, countries like ours are, in the end, most vulnerable to the adverse effects.
Rising sea levels and coastal erosion could lead to a loss of some 17% of the land surface and 30% of food production by the year 2050, according to UN panel of experts, and these numbers are nothing if not alarming.
Climate financing will be crucial in the coming years in terms of Bangladesh dealing with the adverse effects of climate change, which are largely the doings of richer nations; indeed, Bangladesh is responsible for a very small percentage of global carbon emissions, but ends up bearing most of the burden.
A UK-based think tank estimates close to $2 billion is being spent in Bangladesh every year to reverse the damage caused by climate change, and on measures for prevention. For a poor country, this is simply not sustainable.
Needless to say, it is the extreme poor who are most affected, as they have to divert their income away from other essentials such as food, education, and health care to deal with the immediate damage caused by climate change -- damage which includes destroyed crops and wrecked homes.
The money from climate financing programs, then, must go where it is most needed, and those who cannot be saved should, at the very least, be compensated.
Because climate change creates an imbalance, it is up to the world’s leaders to get together and correct this imbalance.