While the UN Climate Change Conference begins today in Egypt, most developing countries like Bangladesh and Egypt are concerned that food and energy prices will rise due to the
Russia-Ukraine conflict.
More than 30,000 delegates gathered in Sharm el-Sheikh, a resort town on the Red Sea, to discuss climate action during the UN Climate Change Conference.
Expatriate Mohammed from Egypt living in the UAE said: “Food prices have increased, causing living costs to skyrocket.”
According to him, the high unemployment rate forced Egyptians to seek employment in other countries.
“Egypt’s current leadership is trying to rebuild the country,” said Cairo tourist guide Mohamed Siddik. “But our food prices are rapidly rising due to the global economic slowdown,” he said. “This is a global crisis, not just for us.”
In addition, he noted that his country is concerned about the construction of a new dam by a neighbouring country.
Muhammad wants to address the economic crisis before addressing the environmental issues.
Climate reparations, sometimes called “loss and damage” payments, is expected to dominate the conference agenda.
At the conference, Bangladesh will urge governments to establish a loss-and-damage fund for developing countries as well as implement climate financing pledges.
The country will also reiterate its call for the materialisation of the pledge of providing $100 billion a year by developing countries at the earliest, officials involved in the process have said.
During COP26, the Glasgow Sharm el-Sheikh work program was launched to enhance the implementation of adaptation actions in developing countries particularly vulnerable to climate change.
“We will advocate for funding arrangements to address loss and damage. This agenda item is of great importance to us as a country,” Environment, Forest, and Climate Change Minister Shahab Uddin recently said.
The country will also push on matters relating to the work program, which is the future course of action on how to limit global tempareture.
Due to the recent cyclone, Bangladesh has lost a large amount of food grains. Over the past month, energy costs and a sudden cyclone have contributed to an increase in food inflation.
As part of the Mujib Climate Prosperity Plan, Bangladesh has already committed to producing 40 percent of its electricity from renewable sources by 2030. However, the plan faces uncertainty due to a scarcity of land.
Moreover, the government will need an additional $7 billion to implement the plan.
To overcome the current crisis, Bangladesh has already requested $4.5 billion.
Dr Tawfiq-e-Elahi Chowdhury, energy adviser to the Bangladesh Prime Minister, recently said that developed countries have a responsibility to compensate us for prolonging the conflict in Russia and Ukraine.
Bangladesh is facing an energy crisis because of abnormal LNG price hikes on the spot market.
[source: Daily Sun]
