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Equitable Climate Finance Is Needed Before COP-29 Conference – Hiren Pandit || English News

Equitable Climate Finance Is Needed Before COP-29 Conference

Hiren Pandit: Climate finance, adaptation, and mitigation strategies must be equitable and prioritize the most vulnerable populations. The $100 billion pledge to address the international financial crisis should be increased. While financial aid from developed countries can alleviate some financial issues, it will not establish true climate justice. Bangladesh remains committed to limiting global warming to 1.5 degrees Celsius, emphasizing the need for adaptation measures and youth involvement. Additionally, international challenges must be clearly defined, and ambitious mitigation initiatives must be discussed.

Bangladeshi civil society should take a more active role at the COP-29 conference. Strong advocacy is essential to ensure that the voices of vulnerable countries like Bangladesh are heard in global climate negotiations. Bangladesh aims to set an example in tackling climate change and building resilience. There is optimism that COP-29, held in Baku, the capital of Azerbaijan, will lead to significant progress in fulfilling international climate finance commitments. More attention should be directed toward Bangladesh’s ongoing climate adaptation activities. Climate change poses a considerable challenge, notably impacting human migration.

Climate finance is crucial for helping vulnerable countries like Bangladesh cope with the consequences of climate change. Expectations for COP-29 are high in terms of achieving the desired outcomes. During the 29th session of the Conference of the Parties (COP-29), world leaders will assess progress in implementing the Paris Agreement, which aims to limit global warming to 1.5 degrees Celsius. With 197 countries and 198 parties, including the European Union, COP is the largest international forum for discussions on climate policy.

At the upcoming 29th session of the Conference of the Parties (COP-29), world leaders will evaluate the progress in implementing the Paris Agreement, which aims to limit global warming to 1.5 degrees Celsius. With participation from 197 countries and 198 parties, including the European Union, the COP is the largest international forum for climate policy discussions. The conference will tackle complex issues such as climate adaptation, mitigation, and financing for losses and damages—topics of significant concern for vulnerable nations like Bangladesh.

A short documentary from Bangladesh, titled “Latika,” will be screened at COP-29 in Baku, Azerbaijan. Directed by Shamsul Islam Shwapan, the film portrays the struggles of a woman and her family from the traditional Malo community living by the banks of the Chitra River in the Narail district. Swapan mentioned that “Latika” participates in two categories at the Doku Baku International Documentary Film Festival. This is why the documentary is showcased at the 29th United Nations Climate Change Conference.

In addition to “Latika,” two other films will be presented at COP-29: Russia’s “Against the Wind” and Belgium’s “Dhan Melting Snow.” The conference will run from November 11 to November 22. The documentary “Latika” depicts the challenges faced by a woman in the Malo community. It highlights her husband, Shyam Biswas, who fishes using a fishing vulture. The film captures the strained dynamics of their family, which includes two children and three pairs of vultures.

Thirty-two thousand people will discuss climate finance at the upcoming COP29 conference. Bangladesh’s delegation will participate in this significant event focused on climate issues. COP29 presents a crucial opportunity to accelerate actions against the climate crisis. It will bring together governments, businesses, and civil society leaders from various countries to develop concrete solutions amid a global landscape marked by record-high temperatures and extreme weather events.

According to the United Nations, the primary emphasis of COP29 will be financing, as nations require trillions of dollars to reduce greenhouse gas emissions and protect lives and livelihoods from the escalating impacts of climate change. During this conference, updated national climate action plans will be presented in line with the Paris Agreement. The upcoming summit in Baku will also address topics such as energy, trade, business cooperation, and a planned air services agreement among countries. For Bangladesh, adapting to climate change and being prepared for disasters is essential, and efforts to secure funding for damages caused by climate change must continue.

There has been significant discussion regarding the experiences, outcomes, and future of COP28. Negotiators believe that Bangladesh struggles to manage its natural resources—such as mountains, forests, and rivers—effectively. The pursuit of unnecessary and unplanned development projects has led to disasters. Therefore, using and managing our natural resources responsibly alongside climate change adaptation is vital. Bangladesh must prepare thoroughly to ensure a successful COP29, particularly in terms of compensation. The United Nations’ global conference on climate change, COP28, was held in the United Arab Emirates in December last year, and now the agenda for COP29 is being developed. Preparation should align with this agenda, as we cannot compromise Bangladesh’s adaptation to climate change or disaster preparedness. For COP29 to be fruitful for Bangladesh, the focus should be on eight critical issues: adaptation, capacity building, technology, compensation, and monitoring.

Different countries have been preparing for a hundred years to tackle climate change, but Bangladesh has not. Civil society should enhance monitoring and evaluation in this area. The country has several effective practices to address climate change, but more improvements are needed to demonstrate its ability to utilize funds if they are provided. Experts highlight that Bangladesh’s financial support for climate change is insufficient compared to its needs. The compensation from developed countries, which are primarily responsible for climate change, is minimal.

Bangladesh ranks among the top two to three countries in Southeast and South Asia in terms of vulnerability. The aid process differs, mainly in offering technical support rather than substantial investment. Unfortunately, developed countries cannot be compelled to provide compensation, resulting in weak compromise decisions. The Loss and Damage Fund has been established to combat climate change, but it will take time to become effective, potentially requiring a few more years to secure this funding. The government has initiated projects to ensure that Bangladesh is among the first to receive these funds.

There is a need for insurance against climate change damages, as farmers in Bangladesh often face bankruptcy due to wildfires or cyclones. Those at risk from climate change should be covered by insurance to mitigate damage. Many believe there is no alternative to stopping fossil fuels to combat climate change, yet developed countries continue to rely on fossil fuels to drive their economies. Consequently, countries like Bangladesh suffer the repercussions of climate change. However, there was little success regarding this issue at COP28.

To secure compensation, those representing the government at climate conferences must be better prepared. Transparency is crucial for obtaining compensation. The government’s unplanned development has been blamed for environmental degradation, leading to floods in regions such as Bandarban and Sylhet. In the face of climate change, proper management of natural resources is essential. While hill communities may not be familiar with COP, they are acutely aware of annual droughts, food shortages, and water scarcity. Protecting mountains, rocks, and ridges is more crucial than securing funding. Funding is unnecessary to stop deforestation; removing stones is disrupting water sources. It is vital to consider how to protect the environment, especially in areas where mountains are being destroyed.

Women are significant victims of climate change, particularly those in the Shatkhira region, who experience various complications related to uterine health due to increased salinity in their environment. Marginalized communities in the country are among the primary victims of climate change, facing challenges such as the disappearance of many agricultural products. It is essential to raise awareness about these issues both within the country and internationally.

Discussions at COP 28 will likely revolve around limiting global warming to 1.5 degrees Celsius and allocating funds to combat climate change. COP 29 is expected to explore further the current gaps in addressing climate change and aim to establish solutions by 2030.

The first United Nations Framework Convention on Climate Change (UNFCCC) was established in 1994 to tackle the risks associated with climate change. Every year, UNFCCC member countries convene at a Conference of the Parties (COP) to discuss climate-related issues. Currently, there are 198 member countries. The first COP occurred on March 2, 1995, in Berlin, Germany, where a joint initiative was launched to combat climate change and control global warming.

Limiting global warming to 1.5 degrees Celsius is essential for addressing issues like droughts, extreme rainfall, salinity, and worldwide natural disasters. Additionally, a target was set to reduce greenhouse gas emissions in the atmosphere by approximately 43 percent by 2030. COP 26, held in Glasgow, Scotland, in 2020, focused heavily on resilience to climate change and allocating funds to reduce greenhouse gas emissions. The proposal for developed countries to allocate $100 billion annually to developing nations for climate change mitigation was discussed during this conference. Potential future action plans to reduce greenhouse gas emissions were also highlighted, reinforcing the need to keep global warming within the 1.5 degrees Celsius limit outlined in the Paris Agreement.

At COP 27, significant issues were raised, particularly the need for specific annual fund allocation to assist developing countries suffering losses from climate-related disasters. Recognizing that keeping global warming below 1.5 degrees Celsius may no longer be feasible, the conversation shifted to strategies for limiting it to under 2.5 degrees Celsius by the end of the 21st century. Another key topic was the creation of a new climate change fund by 2024, tailored to the needs and priorities of developing countries. Concerns were expressed about the failure to allocate the promised $100 billion annually to these countries by 2020, despite commitments from developed nations.

Bangladesh has established several frameworks at the national level to address climate change, including the Bangladesh Climate Change Strategy and Action Plan, the National Adaptation Program, the Bangladesh Climate Change Trust Act, the Nationally Determined Contributions (NDC), the Bangladesh Delta Plan, and the National Disaster Management Plan. According to the NDC, using its resources, Bangladesh aims to reduce approximately 27.56 tons of greenhouse gases from the atmosphere by 2030.

The country has already set up a climate change trust fund, allocating about 480 million US dollars to 800 projects under this initiative. In the financial year 2021-22, Bangladesh spent roughly 2.96 billion US dollars to combat climate change. Bangladesh also receives over 200 million US dollars from various international organizations for climate-related efforts. Furthermore, under the Montreal Protocol, Bangladesh will reduce 2.14 tons of carbon dioxide emissions by 2025.

If Bangladesh secures funding at COP 29, it could implement various measures aligned with existing programs to combat climate change. Key initiatives may include increasing forest cover from 17% to 30% nationwide, producing organic fertilizers from waste, developing improved crop varieties resistant to drought, floods, waterlogging, and salinity, enhancing river navigability, restoring reservoir ecosystems, promoting planned urbanization and industrialization, and increasing the deployment of electric and hybrid vehicles. Additionally, Bangladesh aims to adopt more organic and eco-friendly pesticides in agriculture and boost the use of renewable energy in power generation. By leveraging funds from COP 29, Bangladesh has the potential to become a zero-carbon country.

Hiren Pandit is an essayist
and a researcher.

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