October 31, 2023
1 min read

Developed Nations Pressed to Fulfill Climate Pledge

The environment minister urged parties to agree on a clear definition of climate finance that enhances the accountability and transparency of climate and non-climate financial flows…reports Asian Lite News

Bangladesh Environment Minister Shahab Uddin has emphasised the urgent need for predictable and sufficient grant-based public financing for climate adaptation in vulnerable developing countries.

He also stressed the importance of developed nations fulfilling their commitment to mobilise 100 billion US dollars annually through 2025, while addressing the past three years’ shortfall (2020-2022), during a ministerial preparation meeting held in Abu Dhabi, UAE, as part of the process leading up to the 28th meeting of the Conference of the Parties (COP28), Dhaka Tribune reported.

Uddin stressed the need for clear mechanisms to timely report and account for the delivery of climate financing commitments, saying failure to do so could erode trust and hinder progress, Xinhua news agency reported.

He called for the New Collective Quantified Goal (NCQG) on Climate Finance to be significantly higher than the previous 100 billion dollars per year target, focusing on grants rather than loans and reflecting the actual needs of developing nations to adapt to climate change’s inevitable impacts.

The environment minister urged parties to agree on a clear definition of climate finance that enhances the accountability and transparency of climate and non-climate financial flows.

He said the outcome of COP28 should emphasise the responsibility of developed countries to lead in providing and mobilizing climate finance for developing nations.

ALSO READ-COP28 Chief Urges Enhanced Adaptation Finance

Previous Story

Venezuela Sends 26 Tons of Aid to Mexico After Hurricane Otis

Next Story

Li Keqiang’s Remains Moved to Beijing for Cremation

Latest from -Top News

Pakistan in the Dark: Power Crisis Boils Over

Regular power outages are a fact of life in Pakistan, but recent developments suggest that the situation is escalating to new extremes….writes Nasir Khattak In early January 2025, a nerve-breaking power outage

Modi, MBZ talk big ties

The call reaffirmed their keenness to “strengthen relations in line with their shared vision to leverage opportunities and deepen strategic cooperation.”…reports Asian Lite News In a significant diplomatic engagement, Prime Minister Narendra

It’s Official: Trump Slaps 25% Tariff on India

Trump issues executive order formalising India’s tariff at 25 pc…reports Asian Lite News New York, Aug 1 (IANS) As the deadline for tariffs neared, US President Donald Trump imposed the threatened tariff

Balochistan not for sale, Trump told

Mir Yar Baloch asserted that Trump’s recognition of the oil and mineral reserves in the region is “indeed accurate.”…reports Asian Lite News Just after US President Donald Trump announced to help Pakistan
Go toTop

Don't Miss

Nine Indian Leaders Named in Time 100 Climate List

Geeta Aiyer is founder and president of Boston Common Asset

Health risks surge in UK due to climate change

The report also warns that more people will be at