Bangladesh needs $2.6 Billion per year by 2030. In total, developing countries needs least $50 billion per year by 2020, and at least $150 billion per year by 2025 from rich countries in public financing to climate adaptation.
These are the outcome of ActionAid’s new report named “Mind the Adaptation Gab”, just before COP21. The report released globally on 17th November, 2015 is among the first to calculate the actual amount that rich countries should pay as grant. Grant-based adaptation financing to developing countries is paramount.
While rich countries are hesitant to increase the total amount of grant-based finance provided to cope with climate change and adaptation in developing countries; Bangladesh needs 40 billion USD from 2015 to 2030 to address adverse impacts of climate change, according to the Government of Bangladesh’s INDC published in September 2015.
“The impacts of climate change on vulnerable communities in Bangladesh and other developing countries are already massive. Approaching COP21 in Paris we need to see a road map that shows the scaling-up of public finance to at least $50 billion per year by 2020, and at least $150 billion per year by 2025, so that developing countries like Bangladesh can start implementing the adaptation work that is so urgently required, says”Farah Kabir, Country Director, ActionAid Bangladesh.
In the report, Mind the Adaptation Gap from ActionAid International asserts rich countries’ financial responsibility to support developing nations to adapt to the climate crisis. The report is based on investigation in six countries is the first to calculate the actual amount that rich countries should give based on estimates for future global adaptation need, and to compare this to their adaptation finance contributions so far.
The calculations show that rich countries are falling well short of providing adequate money to help people in poor countries already suffering the harsh impacts of climate change.
The report finds:
The USA needs to increase its contributions by more than 154 times, from the US$0.44bn it gave in 2013 to a fair share of US$67.5bn in 2025.
France, host of December’s landmark climate conference COP21, needs to increase its contributions by more than 75 times to meet its fair share, from the US$0.07bn in gave in 2013 to US$5.5bn in 2025
·European Union members collectively need to increase contributions by more than 11 times to meet their fair share, from US$3.2bn in 2013 to US$36.9bn in 2025.
Australia needs to increase its contributions by 20 times to meet its fair share, from US$0.22bn in 2013 to US$4.4bn in 2025.
The rich and emerging economies contribute to almost 80% of the global emission where Bangladesh contributes only about 0.16% (0.4 tonnes per capita)- this is almost negligible considering any calculation especially population and development needs.
According to the report, Rich developed countries, which have produced the majority of greenhouse gas emissions in the earth’s atmosphere and have the most historical responsibility for climate change, must acknowledge their obligation to support developing countries to adapt to climate change impacts. This must be done through providing means of implementation such as climate finance, technology transfer and capacity building.
The report comes as world governments prepare for the UN climate conference COP21 in December where a landmark global deal on climate is expected to be reached.
“It not fair Adequate grant-based, not loan based climate finance will be a key barometer of success for the world’s leader at the climate summit in Paris next month. Rich countries must deliver their fair shares of adaptation finance in the new global deal’, says Farah Kabir
Report says, Developing countries are particularly vulnerable to climate change. Adaptation in these countries will be challenging, costly, and must take place in addition to ongoing development efforts. There is still a great deal of assessment, trial and learning to be done with regard to adaptation. Investment in technology, communications, infrastructures, institutions, training, outreach and many other approaches will all be required