Climate-Vulnerable Bangladesh Claims for $200 Billion Allocation at COP29

In addition to the rise in sea level due to climate change, there is also a risk of water becoming acidic.

In that case, the risk of harmful effects on aquatic animals and plants in the water cannot be ruled out. The need for a specific temperature environment for each aquatic plant and animal is immense. Biodiversity is decreasing due to the effects of climate change. Many plants and animals have already become extinct. Many plants and animals are moving towards extinction. There is a risk that food production will decrease in the unexpected environment caused by climate change, increasing food security risk. Scientists believe that there is a risk of increased incidence of unforeseen diseases like corona in the future. 

On the other hand, the poverty rate is also growing due to natural disasters caused by climate change. Statistics show that about 23 million people are displaced annually due to climate change. Natural disasters are estimated to continue to increase due to climate change. In that case, necessary steps must be taken to reduce the impact of damage caused by climate change. On the one hand, there is a growing population; on the other hand, the entire world is concerned about the harmful effects of climate change. The 29th meeting of the Climate Conference was held in Baku, the capital of Azerbaijan. 

UN experts called on countries worldwide to prioritize human rights protection with truly effective climate action for 2030 and agree on adequate, transparent, and legitimate financing for the United Nations Framework Convention on Climate Change. 66,778 people are participating in this year's UN Climate Conference. Leaders from all over the world are meeting to address the climate crisis. Developing countries also discussed finance and trade. The question of what the most vulnerable countries have gained from climate change has arisen at the COP29 conference held in Baku. In the past, climate conferences have discussed increasing the use of renewable energy in implementing the Paris Agreement, financial support for technological innovation in developed countries, increasing the use of hybrid vehicles, transferring climate-resilient technologies to developing countries at low cost, and budgets to combat climate change. 

Although it is difficult to deal with the effects of climate change in reality, more attention should be paid to increasing adaptive capacity to reduce this impact. For this reason, the importance of climate finance is immense. The effects of climate change are being observed more in developing countries. Recently, the harmful effects of floods, salinity, drought, and natural disasters have been noticeable in Bangladesh. Geographically, Bangladesh is a climate-vulnerable country.

In this case, money is needed to increase adaptive capacity. To improve the flow of flood water caused by climate change, a considerable amount of money is required to increase the navigability of local rivers. Money is also needed to produce renewable energy instead of coal-based power generation to reduce greenhouse gas emissions. There is a need to analyze the extent to which the decisions taken at the COP conference in the past have been implemented. Since the impact of climate change is exceptionally high in developing poor and small island states, adaptive capacity must be increased by developing climate-resilient environments in these countries. 

To increase this adaptive capacity, implementing the decisions taken at the COP conference is essential. There is no alternative to adaptation to protect the world from the harmful effects of natural disasters, food security, and health risks. Therefore, a realistic decision on climate finance is needed. Only the practical implementation of the decisions taken at COP29 can protect vulnerable countries, including Bangladesh, from the harmful effects of climate change. This year's weather disasters have encouraged developing countries to demand more funds. The United Nations High Commissioner for Refugees (UNHCR) has released a report highlighting how climate change is making life even more difficult for people fleeing war and persecution. 

The report shows that three-quarters of the world's 120 million displaced people live in countries severely affected by climate change and that 65 countries are expected to face "extreme climate-related hazards" by 2040. The harmful effects of climate change are increasing. Developing and poor countries are suffering the most. Small and island states are also suffering greatly. Crops are also suffering in this regard. Each crop requires a certain level of temperature for its production. If temperatures increase at an unexpected rate, there is a risk of crop production being disrupted. Greenhouse gases contribute to the increase in temperature. 

The amount of greenhouse gases in the world is constantly increasing. According to the 2023 estimate, 57.4 gigatons of greenhouse gases are emitted annually. On the other hand, according to the Paris Agreement, there is an obligation to keep the increase in global temperature within 1.5 degrees Celsius. But if the temperature continues to increase like this, there is a risk that global temperature will increase from 2.5 degrees to 2.9 degrees Celsius. Therefore, according to the Paris Agreement, to keep the temperature below 2 degrees Celsius, greenhouse gas emissions in the atmosphere will have to be reduced by about 43 percent by 2030. The amount of carbon dioxide in greenhouse gases has increased by about 50 percent compared to the previous industrial era. If the temperature has to be kept below 2 degrees Celsius, greenhouse gas emissions in the atmosphere will have to be reduced by about 24 gigatons. 

Oil and gas production through coal-based electricity generation must be reduced by 2040. Otherwise, stopping the increase in greenhouse gases in the atmosphere will not be possible. The number of natural disasters is increasing due to the impact of climate change. According to the United Nations, about 650,000 people die annually in drought, 577,232 in cyclones and storms, 58,700 in floods, and 55,736 in high temperatures. In recent years, about 40 percent of the world's land productivity has been reduced due to climate change. 

The amount of cultivable land is decreasing due to salinity and natural disasters. In broad terms, food insecurity may increase due to climate change in the future. At COP29, Bangladesh focuses on securing funding to support a national plan that could benefit more than 50 million people in high-risk climate zones. Bangladesh is ranked as the seventh most climate-vulnerable country in the world. It faces regular natural disasters, including cyclones, floods, and heat waves, and it is estimated that climate change could displace 13.3 million Bangladeshis by 2050.

Bangladesh highlighted the need for developed countries to meet their annual pledge of $100 billion. Bangladesh also spoke about the complexity of accessing climate fund funding. Establishing a $700 million loss and damage fund was a key achievement of COP28. As the country most affected by climate-related disasters, Bangladesh welcomed this development. Bangladesh wants to play an influential role for the least developed, highly endangered, and vulnerable countries due to climate change at the COP29 conference. To this end, we decided to work together to resolve several important issues. 

Bangladesh's agenda at COP29 revolves around three main agendas - climate finance, adaptation implementation, and implementation of the damage fund. Bangladesh has helped address displacement and loss of arable land from rising sea levels. The conference also advocated a strong financing mechanism to support the disadvantaged people affected by climate change. Bangladesh has worked with the attitude that countries that contribute the least to global emissions will receive priority in compensation. Bangladesh's inclusion in this issue is a significant step forward. Apart from government representatives, other participants in various events also participate in policy discussions, advocate for Bangladesh, and share their experiences. Not only at COP meetings and discussions on this issue occur at the UN, regionally, in different countries, and in other institutions within the country. Numerous reports have also been released based on these. But the pace of climate change is increasing. Bangladesh spends an amount equivalent to 5 to 6 billion US dollars annually from its annual budget on climate management. 

It receives about one billion dollars annually from the international community. However, more money is needed to take appropriate measures, which is unlikely to be received from the global community. Bangladesh seeks support for allocating 200 billion US dollars to LDC countries. A proposal has been made to allocate 200 billion US dollars for the least developed countries (LDCs) and the most vulnerable countries to address the climate crisis challenges. Bangladesh has called on the European Union (EU) to support this proposal. This call was made at a bilateral meeting between LDC and EU ministers on the outcome of COP29 in Baku, Azerbaijan. 

The meeting emphasized the need for a balanced and equitable agreement through cooperation between both parties to resolve the remaining issues. Bangladesh said that many problems remain unresolved. They called on both sides to work together to ensure a meaningful and inclusive agreement at COP29. At the meeting, the LDC ministers outlined their central positions, emphasizing the need for financial and technical assistance to address the impacts of climate change. EU ministers acknowledged the concerns of LDC countries. They reiterated their commitment to addressing climate risks and ensuring sustainable development. The meeting discussed important issues such as climate finance, adaptation, emission reductions, and the global stock-taking process. The meeting was identified as an essential step forward in taking effective action by giving importance to the voices of the most vulnerable countries in the final negotiations of COP29. 

Written by Hiren Pandit

Bio: Hiren Pandit is an Essayist and a Researcher

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