Adaptation funding to combat climate change needs to double
Md Shahab Uddin, Minister of Environment, Forest and Climate Change (MoEFCC), Bangladesh, said, “Developed countries must contribute US$100 billion annually to maintain a 50:50 balance between climate mitigation and adaptation.
Doubling the amount of adaptation finance would play an important role in meeting the adaptation needs of vulnerable countries.
The environment minister recently said these things in a meeting held in Senegal’s capital Dakar. Ministers and representatives of the Least Developed Countries (LDCs), including the Minister of Senegal, were present at the meeting.
The environment minister further commented that many LDCs have prepared or are preparing their National Adaptation Plans (NAPs). Funds are now urgently needed to implement NAP.
Increasing adaptation needs must address as well as increasing global emission reductions.
He believes that if climate change does not stop, the level of damage will continue to increase.
‘We urgently need to increase the level of ambition and implementation of mitigation. Without it, we will never achieve the 1.5-degree Celsius target.
To this end, by 2030, it should reduce global emissions by 45 percent compared to 2010. Developed countries must take the lead in global mitigation efforts, and developed countries, especially the G20 countries, must also play an important role,” the minister added.
