South Asia alone needs about 5 trillion dollars to protect the environment
South Asian countries need about $5 trillion to reduce carbon emissions and promote renewable energy for environmental protection. This information was published in the report of the Standing Committee on Finance of the United Nations.
The report was published on Friday (November 15). It shows that for the sake of protecting the climate, a total for 374 essential needs of 20 countries in South Asia have has calculated to spent 3.3 to 4.9 trillion dollars.
Of this amount, $2.9 trillion is needed for mitigation or “mitigation” and $325 to $431 billion is needed for adaptation.
The majority of these money claims are from India. According to the demand of Bangladesh, 12 billion dollars have been included in this figure. There is no difference between India, Bangladesh and Pakistan in this demand. Although this report is about south Asia, there is no mention of China’s demand.
Asia requires the highest funding for carbon mitigation and adaptation in its Nationally Determined Contributions (NDCs) under the Paris Agreement.
India, Indonesia, Iran and Pakistan are the leading Asian developing countries in terms of demand. Bangladesh is also at the forefront in terms of size, population and funding needed to curb pollution.
According to this report, the cost of 2 thousand 753 of the 2 thousand 753 needs out of total 5 thousand 760 needs of 142 countries of the world has been calculated. This is 48 percent of the total requirement. The cost of this is estimated to be roughly 5 to 8.5 trillion dollars.
The developed world will have to spend this money by 2030 to make the world habitable through de-pollution. The main topic at COP29 in Baku will be whether and how much money the developed world will provide.
The absence of world leaders at the summit and Donald Trump’s rise in the U.S. Concerns regarding funding have significantly intensified. In the next week, the related announcement will show the degree of success and failure of the Baku conference.
