Environment, Forest and Climate Change Minister Md Shahab Uddin on Tuesday said Bangladesh at the recently concluded COP27 climate summit 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 in Dhaka.
The event titled "27th World Climate Conference (COP27): Expectations and Achievements and Future Action Plan" was held at the auditorium of the Department of Environment (DoE), according to a press release.
The minister, who was addressing as the chief guest, 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 $100 billion per year until 2025 and long-term climate finance.
At the COP27 conference, he said, Bangladesh played an effective and strong role on behalf of least developed countries which are vulnerable due to climate change.
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 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 COP28 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 $230 million have been pledged to the 'Adaptation Fund.'
In addition, he said, UN Secretary General Antonio Guterres announced a $3.1 billion plan over the next five years to protect everyone on earth through early warning systems.
Shahab said that ‘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 of the world will be more proactive in dealing with the harmful effects of climate change,” he said.
Chaired by Environment, Forest and Climate Change Secretary Farhina Ahmed, the meeting was addressed by Deputy Minister for Environment, Forest and Climate Change Habibun Nahar, Chairman of Parliamentary Standing Committee on the ministry Saber Hossain Chowdhury, and Additional Secretary (Climate Change) Md Moniruzzaman among others.
