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The Financial Express

Climate financing in COP25

TIB expresses concerns

FE ONLINE REPORT | Published: December 24, 2019 21:15:46 | Updated: December 28, 2019 13:41:14


TIB expresses concerns

The Transparency International, Bangladesh (TIB) expressed concerns about uncertainty of climate financing in UN Climate Change Conference (COP25) in Madrid of Spain.

There was no certain development in the long-run climate financing, addressing loss and damage caused by climate change effects, and initiatives to cut global warming, it added.

It also added that there was no sign of meeting the commitments of ‘Intended Nationally Determined Contributions – INDC’ to reduce global temperature and the rulebook was not finalised to meet the draft Paris agreement that had been made in COP24.

The anti-corruption watchdog mentioned those at a media statement on Tuesday.  

Besides, it also expressed concerns over the plan of expanding insurance and other profit oriented private enterprises to support the vulnerable countries affected by climate change effects.

TIB Executive Director Dr Iftekharuzzaman said in the statement that the issue of meeting the commitments made by developed countries of releasing US$ 100 billion as ‘new’ and ‘additional’ supports to address global warming was not discussed in COP25 which is making the long-term climate financing uncertain.

Dr Iftekharuzzaman expressed his dissatisfaction over the move in the COP25.

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