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COP Loss & Damage Fund Need of the Hour for Climate Change-Hit Nations

© AFP 2023 MUNIR UZ ZAMANBangladeshi youths take a bath in the Buriganga River during a hot summer day in Dhaka on June 10, 2019.
Bangladeshi youths take a bath in the Buriganga River during a hot summer day in Dhaka on June 10, 2019. - Sputnik India, 1920, 25.05.2023
From 1970 to 2021, Asia accounted for 47 percent of all deaths worldwide caused by extreme weather events, with Bangladesh reporting the highest number of death in the continent.
A report published by World Meteorological Organization (WMO) has said that the South Asian coastal country Bangladesh has reported the highest death toll in Asia caused by extreme events incidents, including cyclones, floods, heatwaves, from 1971 - 2021.
The report stressed that the tropical cyclones in the region leads to the highest number of death, with cyclone Nargis in 2008 caused 138,366 deaths. In total, the country has reported 520,758 deaths due to 281 extreme weather events.

Bangladesh Bears the Brunt of Extreme Weather in Asia

Speaking with Sputnik, Bangladesh-based analyst Shafiqul Alam, who is associated with the Institute For Energy Economics and Financial Analysis (IEEFA), said that Bangladesh is one of the top ten countries that suffer the most due to climate change-induced disasters.
"In recent years, the number of cyclones and other disasters has increased both in frequency and intensity. The Bangladesh government has taken sincere measures, such as early warning and quick response systems, awareness among people – especially in coastal areas that are highly vulnerable to cyclones and related disasters."
"Overall, the preparedness is much better now compared to what Bangladesh had more than a decade ago: cyclone SIDR (in 2007) and AILA (2009) ravaged the country's coastal line," Alam opined.
However, Alam said that the burden of climate change-induced disasters on Bangladesh is growing despite government investment in disaster preparation.
"For a developing country like Bangladesh, it is a huge burden to spend on climate change adaptation when it also needs to fulfill the incremental demand for energy and other infrastructure for its economic development," Alam stressed.
The report also said that the least-developed countries and small island developing states suffered a disproportionately high cost in relation to the size of their economies.

Speaking about the "loss and damage fund" set up by the developed countries at the 27th Conference of the Parties (COP27) to provide financial assistance to poor nations stricken by climate disaster, Alam said COP28 should focus on how to "operationalize" the fund at the earliest opportunity to ensure that vulnerable countries, like Bangladesh, and others can access this finance for their transformational adaptation.

Developed countries agreed in COP16 that they would give $100 billion per annum to poor and developing countries to support climate adaptation and mitigation.
"It is also essential that countries start delivering their previously promised $100 billion per annum to the countries sooner rather than later," Alam added.
Женщина с ребенком накрывается шалью от жары в Индии  - Sputnik India, 1920, 22.05.2023
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