Daily Times

From November 6 to November 18, 2022, Sharm el-Sheikh, Egypt, is hosting the 27th Conference of Parties (COP27) of the United Nations Framework Convention on Climate Change. This two-week climate conference is critical for the globe because it occurs at a time when nations are coping with a global energy crisis, the conflict in Ukraine, rising inflation rates, and dwindling funding for climate adaptation. It also has great significance for Bangladesh, as the country’s ability to maintain its economic growth depends on raising the necessary finances for urgent climate action and mitigation.

This year’s theme is “Delivering for People and the Planet,” which aims to hasten global climate action by lowering greenhouse gas emissions, fostering resilience and preparing for climate change’s unavoidable effects, and increasing the flow of climate finance to developing nations.

The goals of COP27 are based on the outcomes of COP21, which was held in Paris in 2015. At COP21, 196 parties committed to reducing greenhouse gas emissions to keep global warming to well below 2°C and, ideally, to 1.5°C. They also set emission reduction targets in their national plans and made financial resources available to carry out their commitments under the Paris Agreement.

The developed nations want to concentrate on helping developing nations phase out fossil fuels and transition to renewable energy sectors, whereas the developing countries are in favour of a commitment to increase climate funds to mitigate the disasters caused by climate change they are already experiencing. As a result, the ultimate goal of this year’s summit is in dispute. While the world’s poorest climate-vulnerable regions are looking for new funding to make up for the economic losses brought on by worsening floods, storms, cyclones, and heat waves, the industrialized nations are reluctant to offer new funding out of concern that they might be held liable for the climate-related damages.

Thousands of millions of dollars have been spent on war and aggression around the world. However, the world’s leaders have not yet followed through on the promises they made at COP26 in Glasgow, Scotland, last year. The majority of the COP 26 participant nations, particularly the least developed nations, who suffer the most, spoke out against the developed countries for failing to take action to keep the global temperature increase below 2 degrees Celsius and for delaying efforts to fulfil their commitment to providing $100 billion annually for underdeveloped and developing nations starting in 2020 as stipulated by the Paris Agreement.

The global climate summit in Glasgow came to an end with an ambitious plan known as the Glasgow Climate Pact, a collection of agreements on coal, carbon markets, money for developing countries, and national climate targets as well as a notable range of commitments on the forest, methane, car emissions, and private finance. However, these pledges have not yet been fulfilled.

Only two dozen countries upheld their pledges and promised stronger action, despite over 200 countries having agreed to “nationally determined contributions” to reduce emissions. High-income nations promised to provide $100 billion annually by 2020, but they have yet to fulfil their promises.

However, the CVF (Climate Vulnerable Forum), which has 48 members from Asia, Africa, Latin America, the Caribbean, and the Pacific, and is now chaired by Bangladesh for 2020-2022, has been playing a crucial role in preparing a strong presentation for COP 27. The premier of Bangladesh, who is also the chair of the CVF, attended several sessions of COP 26 and spoke out strongly alongside others to keep global temperatures within reasonable ranges. He also asked rich nations to compensate the affected nations by calculating their losses and damages.

Although they make less of a contribution to the issue of climate change, the least developed nations bear the brunt of its negative effects, including sea level rise and natural disasters. Let’s turn to Bangladesh’s viewpoint. The effects of climate change are being seen in Bangladesh, the seventh most climate-vulnerable nation. It battles droughts, cyclones, storm surges, floods, and other catastrophic climate phenomena every year. Many farmers give up farming and look for alternative sources of income as a result of salt water seeping into many arable fields. When it comes to air quality, Dhaka, the capital city of Bangladesh, has been named one of the most polluted cities in the world. Because of primarily the use of erratic fossil fuels, this has solely been for the greenhouse effect.

A few days ago, cyclone Sitrang badly struck Bangladesh, leaving 24 people dead, approximately 10,000 homes damaged or destroyed, and 1,000 shrimp farms washed away in a flood brought on by a cyclone-induced flood. Despite making great progress in lowering the number of people who die from climate disasters, Bangladesh continues to face serious and rising climate risks, according to a recent Country and Climate Development Report from the World Bank Group for Bangladesh. According to the World Bank, the nation’s robust growth potential could be jeopardized if immediate action is not taken, including new funding for climate adaptation and resilience measures.

As a result, COP27 is crucial for Bangladesh and other nations that are vulnerable to climate change to accomplish their objectives and guarantee funds for climate mitigation. As they will be complying with COP27, it is anticipated that developed nations like the USA, China, Australia, and the KSA will make ambitious plans or NDCs (Nationally Determined Contributions) in 2022. The International Center for Climate Change and Development, or ICCCAD, can be crucial in helping each nation reach its objectives for the upcoming COP 27.

The writer is a consultant.