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4:30 pm | April 20, 2024
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Industrialized countries are providing far less financial assistance than promised: Environment minister, Bangladesh

Industrialized countries are providing far less financial assistance than promised: Environment minister, Bangladesh.

Industrialized countries contribute far less to the Climate Fund. Shahab Uddin, Minister, Ministry of Environment, Forest and Climate Change (MoEFCC), Bangladesh, said, “It is much less than the promised amount.”

 “One of the challenges of the present time is global climate change which has threatened the existence of human civilization. Besides, Bangladesh is not getting enough money for compensation as a vulnerable country due to climate change,” he added.

“Industrialized countries are providing far less financial aid than they have pledged. Also, loans are more than grants, and the amount allocated to the adaptation sector is less than the amount allocated to the mitigation sector, ” the Minister said.

“However, a total of Tk 3,852 crore has been allocated since the last fiscal year, 2009-10, by forming the Bangladesh Climate Change Trust Fund (BCCTF) ‘ for the adaptation and implementation mentioned in the Bangladesh Climate Change Strategy and Action Plan  (BCCSAP).

About 850 projects are being implemented with this money, “the Minister Shahab Uddin said, “To protect the future generations, the Bangladesh government has taken the Mujib Climate Prosperity Plan (2022-2041), a strategic investment framework for climate finance through international cooperation.”

“In addition, the government has already completed the formulation and updating of the National Adaptation Plan (NAP) (2023-2050) and the Nationally Determined Contributions (NDCs) as pledges to reduce greenhouse gas emissions for the implementation of climate change adaptation work under the UNF CCC and submitted to the UNF CCC,” he continued.

“It is necessary to ensure an adequate amount of climate fund compensation money to move the development trajectory of Bangladesh from climate vulnerability to climate tolerance and from that to prosperity, “the Minister added.

Minister Shahab Uddin commented that these measures taken by the government and the money received for compensation as a vulnerable country would help deal with future climate change’s adverse effects.

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