Metropolis Report –
The United Nations Framework Convention on Climate Change’s 27th Conference of Parties (COP27) is taking place now in Sharm el-Sheikh, Egypt with the slogan “Together for Implementation”. This vital two-week-long climate summit is taking place at a time when the world is struggling with a global energy crisis, the conflict in Ukraine, rising inflation rates, and decreasing funding for climate adaptation. It is also very important for Bangladesh because the country needs the fund for immediate climate action and mitigation to maintain its economic growth.
Along with the LDC (Least Developed Countries) group and G77 (Group of 77 – a coalition of 134 developing countries) plus China, Bangladesh targets to achieve the following from this COP27:
- Scaled up Adaptation Fund
- Accelerating actions by the Major emitter countries to reduce greenhouse gas emissions.
- Visible progress of the Mitigation Work Program under the Paris Agreement.
- Settlement of the definition of Climate Finance.
- Dedicated finance for Loss and Damage
More than 50 countries including Bangladesh have submitted their National Adaptation Plan, the implementation of which would require sufficient funds. For this, tight discussions and negotiations are going on to get the fulfillment of the commitment of 100 billion dollars per year with a delivery plan by Developed Countries. In addition, developing countries are seeking easier technology transfer processes along with needed support to develop their homegrown technology.
Let us hope for the best, but be ready for the worst!
