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Search date: 19-11-2022 Return to current date: Click here

MVCs demand loss-and-damage finance

FE REPORT | November 19, 2022 00:00:00


Civil-society leaders from most vulnerable countries (MVCs), including Bangladesh, have urged the developed countries to declare the loss-and-damage finance facility within the COP27 process.

They also expressed disappointment at the outcome of this year's climate conference.

They made the demand at a press conference styled 'LDC's & MVC People's Expectations and COP27' in the COP27 conference venue in Sharm El Sheikh of Egypt on Thursday (Egypt time).

They also sought a gesture of strong goodwill from developed countries to reach a realistic consensus in COP27.

They also demanded the big polluters for a real action commitment to achieve the 1.5-degree temperature goal by 2050.

Representatives of different CSOs, including Ali Akbor Tipu (panel mayor of Khulna City Corporation), Shamim Arefin (AOSED), Mostafa Sarwar (KUET professor), Soumya Datta (Fellow, Asoka Research Foundation, India), Prayash Adhikari (Dig Bikas Institute, Nepal), Samah Hadid (Norwegian Refugee Council) and Atle Solberg (head of the Secretariat of Platform of Disaster Displacement) participated and spoke.

Aminul Hoque of EquityBD from Bangladesh presented a keynote on the civil society's expectations.

The keynoter said the negotiations at the COP27 are still unable to reach a concluding agreement on the key issues.

The negotiators and the COP presidency have not been able to deliver a robust work programme on mitigation and financing, thus disappointing the MVCs and developing countries. Mr Adhikari warned developed countries and called upon the developed countries to keep their promise to achieve the 1.5-degrees goal.

Mr Datta strongly argued the Net-zero initiative is entirely incompatible with existing continued investment in fossil fuel projects by the public and private sector of big polluting countries that will create debt burden for poor and MVCs by pushing loan and carbon marketing processes in the name of climate finance.

At the event, Ms Hadid condemned rich countries ignoring climate-induced displacement in Africa, Asia and other countries.

Meanwhile, Mr Sarwar condemned the developed countries as historic polluters and failed to act at the scale and speed of urgency-based actions.

Delayed mitigation and adaptation action has increased the burden of loss and damage for MVCs and LDCs, he added.

Atle Solberg observed that lack of proper support is making it hard for the poor and MVCs to manage their climate displacement.

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