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COP25: Developing countries demand more funds

Published : Saturday, 7 December, 2019 at 11:11 PM  Count : 142

COP25: Developing countries demand more funds

COP25: Developing countries demand more funds

Negotiations are underway between teams of different developing countries including Bangladesh demanding more funds besides the US$100 billion committed by developed countries to the Green Climate Fund every year.

Developing countries, including Bangladesh, expect developed countries to raise their contribution to the Green Climate Fund, according to the team representing Bangladesh. But this comes at a time when the countries have not even fulfilled their pledge to contribute the $100 billion a year yet, UNB reports.

The team also said that the developed countries were involved in long-term financing where they pledged to contribute US$ 100 billion to the Green Climate Fund every year from which Bangladesh used to receive its share as a developing country.

Negotiation teams of different countries are discussing that the developed countries are proposing to withhold this money, but they were supposed to pay US$ 100 billion every year till 2030.

The developed countries have proposed not paying the money from various discussions since the Paris Agreement does not mention the procedure of payment. Rejecting this proposal, the developing countries are claiming more money besides the US$ 100 billion for the climate fund.

Ziaul Haque, a member of the Bangladesh government delegation and coordinator of LDC group told UNB that discussions are underway to include Article 6 in the rule book created under the Paris Agreement as the primary purpose of COP25.

The addition of Article 6 (market mechanism and non-mechanism) will be finalized in this year’s summit (COP25).

“US$ 100 billion was supposed to be mobilized and distributed as the financial target for 2020. Through discussion, it will be found out how much of it was contributed by the developed countries,” he said.

“The affected countries including Bangladesh are claiming to further increase the fund by US$ 100 billion. There are 39 developed and 140 developing countries at present,” he added.

He mentioned that discussions were held on Saturday, the last day of the first week of the world climate conference on increasing the reduction rate of carbon emissions, adding that 39 developed countries in the world are emitting 45 percent of carbon.

“There is no alternative to reducing carbon emissions if we want to save the world. A decision has to be reached on reducing carbon emissions according to Article 6 of Paris Treaty. Negotiations are going on in this regard,” he explained.

Abdullah Al Mohsin Chowdhury, leader of the Bangladesh delegation said 15 to 20 agendas are being discussed in this summit and there are 4/5 main agendas.

“Discussion on the main agendas like losses damage, addition of Article 6 to the rule book under the Paris Agreement, implementing the Paris Agreement, financier’s target, reduction of carbon emissions and other subjects are going on,” he said.

“We all have to reach a consensus if the developed countries are to meet the demands of every developing country including Bangladesh. If there is no consensus on any issue then no decision is reached,” he explained.

Abdullah Al Mohsin Chowdhury said that the developing countries want quick implementation of the decisions taken according to the rule book of Paris Agreement.

“We are putting pressure on developed countries through these discussions,” he added.

COP25 began in Madrid on December 2 and will conclude on December 13.


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