Pay compensation to climate-vulnerable countries: FM to developed countries

Bangladesh called on developed countries – responsible for the world’s highest carbon emissions rates – to compensate poorer nations for the loss and damage suffered by climate change.

In an interview with ITV News, Foreign Minister Dr AK Abdul Momen said it was fair and equitable for these big countries to pay compensation because they are the ones who abuse resources and waste planet Earth.

The G20, which is made up of most of the world’s largest economies, accounts for over 80% of global carbon emissions.

Meanwhile, developing countries like Bangladesh often emit the lowest amounts of global emissions, but are forced to bear the disproportionate wrath of climate change.

Bangladesh is only responsible for 0.4% of the planet’s total carbon emissions, but loses around 2% of its GDP per year due to extreme weather events, according to ITV News.

So far, six million Bangladeshis have been displaced due to climate change and by 2050 the country fears that 17% of its coastline will disappear underwater, creating 30 million climate refugees.

“This is an existential problem for Bangladesh,” Momen said, adding that the problem of climate change is not a national problem, not a regional problem, it is a global problem. “We must all work together in collaboration and in partnership to save this planet.”

Bangladesh currently chairs the Climate Vulnerable Forum (CVF), a global partnership of 48 countries disproportionately affected by the consequences of global warming.

The group was formed in part to hold industrialized countries to account for their contributions to climate change.

The Foreign Minister explained that the CVF, under the leadership of Prime Minister Sheikh Hasina, will push for a number of political commitments at the United Nations climate summit, which will take place in less than two months.

These include endorsing the commitments to reach the 1.5 ° C warming limit by 2030, as set out in the Paris agreement in 2015, and putting pressure on rich countries to they are delivering on their climate finance pledge to invest $ 100 billion per year from 2020 to 2025 to help climate-vulnerable countries.

The issue of “loss and damage” will feature prominently on the CVF agenda at the Summit. Although it lacks a clear definition, it generally refers to the negative impacts of climate change often felt by developing countries.
The Climate Summit – COP26 – is due to take place in Glasgow in November.

Professor Saleemul Huq, director of the International Center for Climate Change and Development in Dhaka, told ITV News that although the loss and damage has been felt by developing countries for decades, the issue is only starting slowly. to be addressed.

“Countries like Bangladesh and other developing countries have been hit by extreme weather conditions, no doubt influenced by climate change for years and no one seemed to care,” he said.

The UK became the first G7 country to enshrine in law a commitment to achieve zero net greenhouse gas emissions by 2050.

COP26 President-designate Alok Sharma urges other countries to follow suit, but Bangladesh says if the UK and other developed countries cannot provide the necessary technological and financial support, they will not be able to s ” commit to reaching net zero by mid-century.

Sharma said: “COP26 is our last best hope to avoid the worst effects of climate change, and we cannot afford to fail.”

Dr Momen told ITV News the summit was an opportunity “to help save this planet”.

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