Dhaka, Bangladesh
Climate fund needs proper handling

Editorial

Climate fund needs proper handling

The problem of climate change has to be dealt with all the attention we can muster as it has become one of the most burning issues today in Bangladesh. The experts apprehend that the growth rate may slow down and the development gains may fall through if we cannot fight the climate change squarely. The need for proper handling of climate finance is underscored by speakers at a workshop on Sunday in Dhaka to address climate change issues for achieving the Sustainable Development Goals (SDGs). They came up with this observation at the workshop on climate financing. As Bangladesh is extremely serious about the issues of climate financing, the demand for tackling the issue in a proper manner is rising gradually. The experts are of opinion that CAG office has to look into the climate financing issue in a circumspect way to ensure its appropriate and transparent use. The Paris agreement on climate change emphasised the consistent flow of financing for climate resilient development and low greenhouse gas emission. It may be recalled that Bangladesh has taken some remarkable steps by generating its own flow of finance for addressing climate change. Another serious problem is Hydrofluorocarbons (HFCs) which are one of the causes of the climate pollution. HFCs are highly climate pollutants responsible for also global warming. Environmentalists apprehend that if left unabated, HFCs will cancel out the climate benefits as there is a relation between HFCs and global warming. The UNHFC climate conference was held in Rwandan capital Kigali on October 14, 2016. In that conference all the developed and developing countries agreed to reduce the HFCs to save our planet. But Bangladesh is yet to ratify the Kigali Amendment Treaty reached at the conference. The Amendment Treaty is intended to create rights and obligations in international law. It is estimated that gradual phase down of HFCs under the Amendment could avoid up to 0.5 degree Celsius of global warming by the end of the century. Bangladesh has been identified as one of the most vulnerable countries to climate change. Sea surface temperatures in the shallow Bay have significantly increased by now and it has caused the fastest recorded sea-level rise in the world. Every sector in Bangladesh must, therefore, take an initiative to preserve our environment and reduce global warming by helping HFCs phase- down. We need to raise awareness about the importance of phasing out HFCs through endorsing the Kigali Amendment, which is known as a global commitment to stop climate change.

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