Humanitarian groups demand formation of climate compensation fund
Dhaka, July 9 (CARE Bangladesh and ActionAid) – Experts at a programme on Monday demanded the government to form a compensation fund to provide support to climate change victims. They made the demand at a sharing programme of a report on climate change at National Press Club VIP Lounge. CARE Bangladesh, ActionAid Bangladesh, WWF and Germanwatch jointly published the report titled Into Unknown Territory: the Limits to Adaptation and Reality of Loss and Damage from Climate Impacts.
“Bangladesh has been playing an active role in the international climate negotiations and if it can form a compensation fund to help the victims to cope with loss and damage suffered due to climate change, this initiative will be appreciated at international level,” said ActionAid Bangladesh Country Director Farah Kabir.
CARE Bangladesh Country Director Nick Southern, CARE director Selim Reza Hasan, deputy manager of ActionAid Bangladesh Tanjir Hossain and policy officer of Germanwatch Hafijul Islam also spoke on the occasion.
The experts underscored the need for introduction of an early warning system in the country and also to device some technologies aligned with the warning system to inform people prior to climatic events to minimize the loss and damages induced by climate change.
The report reiterated the fact that the world is heading towards an average rise of 4 degrees Celsius and recent figure for potential damage to ocean systems due to a 4 degree Celsius rise estimates economic loss at US$2 trillion per year by the end of the century.
Referring to the World Bank estimation, the report said even if the global temperature rises by 2 degree Celsius, adaptation cost for developing country will amount to a minimum of US$ 70 billion by 2020 and up to US$ 100 billion a year by 2050.
It said international migration is already increasing but the nature of migration is a more complex phenomenon than is usually understood. People from at-risk communities are moving on seasonal basis in search of employment in urban areas but climate change is extending the length of time they spend away from their families.
“Mitigation and adaptation efforts are futile now. We need campaign on lost and damage to renew pressures on developed,” said CARE Bangladesh Country Director Nick Southern.