Saturday, 21 December, 2024
Environment, Forest, and Climate Change Adviser Syeda Rizwana Hasan has called for prioritizing public funding to support climate adaptation efforts, urging global leaders to take immediate action.
Speaking at the High-Level Ministerial Dialogue on Adaptation Finance at COP-29 in Baku, Azerbaijan, Rizwana Tuesday emphasised the need for adaptation funds to be channeled through UNFCCC mechanisms such as the Green Climate Fund (GCF) while ensuring a balanced allocation between mitigation and adaptation financing.
Highlighting Bangladesh's vulnerability to climate change, Rizwana stated, "Bangladesh strongly urges dedicated adaptation financing windows and allocations for climate-vulnerable countries to protect millions and enhance resilience." She also called for empowering national entities to access funds directly, warning against relying on market-based loans that exacerbate debt burdens in developing nations.
Bangladesh’s National Adaptation Plan (NAP) estimates an annual need of US$ 8.5 billion for climate adaptation. However, over the past two decades, the Adaptation Fund and the Least Developed Countries Fund (LDCF) have only generated US$ 3 billion for 160 countries, creating a significant funding shortfall.
"The proposal to double adaptation financing by 2025 from 2019 levels lacks transparency and fails to meet the real needs of vulnerable nations," Rizwana pointed out.
Bangladesh, one of the most climate-vulnerable nations, has faced relentless climate-induced disasters in recent years. In the last 18 months alone, the country has endured 15 such events, including two unprecedented floods in 2024 that caused US$ 1.7 billion in damages and impacted 1.8% of the national budget. Furthermore, 1.2 million people are currently affected by waterlogging due to rising sea levels and changes in river morphology.
Despite contributing less than 0.4% of global greenhouse gas emissions, Bangladesh continues to suffer disproportionately from the impacts of climate change.
Rizwana reiterated Bangladesh’s demand for climate justice, equity, and an urgent increase in adaptation financing to tackle these growing challenges.
Earlier, the adviser also participated in a side event at COP-29 titled "Climate Change and Mental Health," focusing on the mental health impacts of climate change.
4o mini
Comments
Environment, Forest, and Climate Change Adviser Syeda Rizwana Hasan has called for prioritizing public funding to support climate adaptation efforts, urging global leaders to take immediate action.
Speaking at the High-Level Ministerial Dialogue on Adaptation Finance at COP-29 in Baku, Azerbaijan, Rizwana Tuesday emphasised the need for adaptation funds to be channeled through UNFCCC mechanisms such as the Green Climate Fund (GCF) while ensuring a balanced allocation between mitigation and adaptation financing.
Highlighting Bangladesh's vulnerability to climate change, Rizwana stated, "Bangladesh strongly urges dedicated adaptation financing windows and allocations for climate-vulnerable countries to protect millions and enhance resilience." She also called for empowering national entities to access funds directly, warning against relying on market-based loans that exacerbate debt burdens in developing nations.
Bangladesh’s National Adaptation Plan (NAP) estimates an annual need of US$ 8.5 billion for climate adaptation. However, over the past two decades, the Adaptation Fund and the Least Developed Countries Fund (LDCF) have only generated US$ 3 billion for 160 countries, creating a significant funding shortfall.
"The proposal to double adaptation financing by 2025 from 2019 levels lacks transparency and fails to meet the real needs of vulnerable nations," Rizwana pointed out.
Bangladesh, one of the most climate-vulnerable nations, has faced relentless climate-induced disasters in recent years. In the last 18 months alone, the country has endured 15 such events, including two unprecedented floods in 2024 that caused US$ 1.7 billion in damages and impacted 1.8% of the national budget. Furthermore, 1.2 million people are currently affected by waterlogging due to rising sea levels and changes in river morphology.
Despite contributing less than 0.4% of global greenhouse gas emissions, Bangladesh continues to suffer disproportionately from the impacts of climate change.
Rizwana reiterated Bangladesh’s demand for climate justice, equity, and an urgent increase in adaptation financing to tackle these growing challenges.
Earlier, the adviser also participated in a side event at COP-29 titled "Climate Change and Mental Health," focusing on the mental health impacts of climate change.
4o mini
Comments
