COP27: A Bangladesh perspective

Dear Editor,

The 27th Conference of Parties of the United Nations Framework Convention on Climate Change or COP27 is taking place in Sharm el-Sheikh, Egypt, from 6 to 18 November 2022. This climate conference is crucial for the world as it is taking place at a time when countries are struggling with a global energy crisis — the Ukraine war, rising inflation rates, and declining funding for climate adaptation.

It also carries a lot of significance for Bangladesh, as the required funds for climate mitigation and urgent climate actions are essential for Bangladesh to sustain its economic growth.

Themed “Delivering for People and the Planet”, the COP27 seeks to accelerate global climate action through reducing greenhouse gas emissions, building resilience and adapting to the inevitable consequences of climate change, and enhancing the flow of climate finance to developing countries.

The aims of COP27 are also built on the outcomes of COP21, held in Paris in 2015, where 196 parties agreed to reduce greenhouse gas emission levels to limit the rising temperature to well below 2°C, above pre-industrial levels to limit the increase to 1.5°C, setting their emission reduction targets, and making funds available under the Paris Agreement.

However, the ultimate goal of this year’s summit is in dispute, as the developed countries want to focus on assisting developing countries in phasing out fossil fuels and transitioning to renewable energy sectors, while developing nations are in favor of increasing climate funds to mitigate the climate-fueled disasters they are already experiencing.

While the poorest climate-vulnerable parts of the world are looking for new funds to make up for the economic losses from worsening floods, storms, cyclones, and heat waves, industrial countries are opposed to providing new funds because of the fear of being legally liable for climate-induced damages.

Although the global climate summit in Glasgow ended with an ambitious plan such as the Glasgow Climate Pact, a package of agreements on coal, carbon markets, cash for developing nations, and national climate targets, these pledges have not materialized yet.

While nearly 200 countries agreed to cut emissions commitments known as “nationally determined contributions,” only two dozen countries kept their commitments and pledged stronger action. High-income countries pledged to provide $100 billion a year by 2020 but still haven’t met their commitments.

China’s pledge to bring greenhouse gas emissions to a peak by 2030 and become a carbon-neutral country by 2060 has been widely criticized for not acting faster to cut coal consumption.

While the least developed countries contribute less to the problem of climate change, they are the worst sufferers of the adverse impacts of global warming, rising sea levels, and natural disasters. Bangladesh, the 7th most climate-vulnerable country, faces the consequences of climate change. Every year, it struggles with floods, cyclones, storm surges, droughts, and other extreme climate events.

According to a recent Country and Climate Development Report by the World Bank Group for Bangladesh, despite Bangladesh’s significant gains in reducing the number of deaths from climate disasters, it continues to face severe and increasing climate risks.

According to the World Bank, without urgent action, including new funding for climate adaptation and resilience measures, the country’s strong growth potential could be at risk. Therefore, COP27 is significant for Bangladesh and other climate-vulnerable countries to secure their goals and ensure funding for climate mitigation.