Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Saturday, October 21, 2017 04:26:57 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Climate funds should be more poor-countries specific

By
20th-Apr-2017       
Comments
Share your thought
Post a comment »
Read all () »

Lyndal Rowlands :
Climate change is making poor countries poorer, yet funding meant to address its economic consequences has been slow to materialise. Instead funding bodies are choosing to invest in green energy projects in middle-income countries.
The trend continued last week when the Green Climate Fund (GCF), a new multilateral financing body set up to fund climate change related projects in developing countries, rejected a proposal to help farmers in Ethiopia cope with increasingly frequent droughts.
Only two of the other eight projects worth 755 million USD approved at the meeting were in least developed countries:
"The 48 least developed countries, their capacity to cope with climate change is much lower than other developing countries," Raju Pandit Chhetri, who was at the meeting, told IPS by phone.
The GCF board argued that the proposed project was too focused on addressing poverty and not enough on the impacts of climate change. Yet Chhetri, who is Director of the Prakriti Resources Centre in Nepal, says that separating poverty from climate change isn't so straightforward.
"To reject an adaptation project for a poor and vulnerable community it is quite astonishing for me," said Chhetri.
Climate change, he says, is "an addition to the problems" that poor communities already have. Already scarce food and water will become scarcer. Limited job options in farming and tourism will dry up.
"To reject an adaptation project for a poor and vulnerable community it is quite astonishing for me,"-Raju Pandit Chhetri. The related nature of the problems, says Chhetri means that it's difficult to separate out solutions that address only climate change or only poverty.
A lack of clarity from the GCF around what types of adaptation projects it will actually fund is also causing confusion says Chhetri who says that should also be some room for experimentation in this new area.
Yet adaption projects are also finding it difficult to access funds for other reasons.
Funding bodies tend to prefer investing green energy projects such as wind or solar, or even controversial mega hydro, which are more likely to offer a return of investment and can help reduce carbon emissions.
Back in 2009, governments committed to provide 100 billion USD in climate change financing per year for developing countries by the year 2020.
While money has begun flowing, a lot of it seems to end up in the same places, says Clare Shakya, Director of the Climate Change Group at the International Institute for Environment and Development (IIED).
"The challenge is that too often it's harder to work in the poorest countries, it's harder to work at the local level, so you see a lot of investment going to the easier things to do."
Big donors such as the World Bank are "all chasing after the same types of investments, … doing the same sorts of things, in the same geographies", says Shakya. This means that "vast populations" are missing out on funds.
The preference for reducing emissions is another reason why LDCs like Nepal are missing out. Nepal's energy use is so low that its emissions are only around 0.0027 percent of global emissions, says Chhetri, which is why, he says, Nepal is more interested in accessing funds to help adapt to climate change impacts like increasingly unreliable rains.
"Eighty percent of the people in the country rely on agriculture which means that we rely on rainwater," says Chhetri.
In fact, energy use in the world's poorest communities is so low that increasing their access, whether through green or non-green energy, could also help them to adapt to climate change, says Shakya.
"Getting access to energy allows a household to recharge a mobile phone and when they can recharge a mobile phone at home then they can get climate change information in an SMS text, they can check market prices in the nearest places, they can find out about labour markets, they can send money to each other through mobile transfers."
"There's all sorts of things that happen when you have access to energy that you don't have without so it's a vital part of resilience," she said.
Billions or Trillions?
Jessica Brown, Associate Director at the Climate Policy Initiative told IPS that there is "still a lot of momentum" from developed countries to "make good on the 2020 commitment" even with indications of a change in US policies towards climate change under the current administration.
But Brown also noted that "the $100 billion goal is certainly not enough to both meet the needs on climate mitigation and adaptation."
"On the renewable energy and energy efficiency side alone, there's estimates that are in the trillions for what's needed for the Nationally Determined Contributions and also the commitment to keep temperature increase below 2 degrees," she said.
Put another way by Shakya: "If you just take the Nationally Determined Contributions of the LDCS on climate financing they themselves need (almost a) $100 billion."
Yet Brown also noted that "the overall economics on climate are moving in the right direction," with technology costs falling and increasing private investment, making investments in green energy more popular.
(Lyndal Rowlands is the United Nations Bureau Chief at IPS - Inter Press Service. Before becoming a UN correspondent in 2014 she worked as a researcher, writer and evaluator in the international development sector. She lives in East Harlem via Dili, Timor-Leste and Melbourne, Australia).

Tariff
Add Rate

News Archive

Inside The New Nation

Football »

Giroud`s overhead kick gives Arsenal 1-0 win at Red Star


Agency :Olivier Giroud scored late in the second half for Arsenal to maintain its perfect Europa League campaign with a 1-0 win over 10-man Red Star Belgrade on Thursday.Five minutes after Milan Rodic was sent off for a second yellow card, Giroud struck with an overhead kick five minutes before ...

Entertainment »

Ali Fazal and Shriya Pilgaonkar come together for Web Series


Shriya Pilgaonkar who was appreciated for her Hindi film debut as Shahrukh Khan’s love interest in Fan and for her viral short film Jai Mata Di, is now going to be seen in a web show called Mirzapur produced by Farhan Akhtar and Ritesh Sidhwani for a global online platform ...

Editorial »

Flood victims yet to get enough support


GOVERNMENT and aid agencies have provided emergency relief for flood victims but not sufficient to settle flood victims as per media reports quoting Center for Policy Dialogue (CPD) researchers who tried to figure out the distribution system in the Haor areas. Over 37 lakh people were affected in the floods ...

City »

Islami Andolon Bangladesh brought out a rally in the city on Friday in protest against price hike of gas and electricity.


.

International »

Iranian Army chief, Assad discuss joint military strategy


Reuters, Beirut :Iran's military chief met with Syrian President Bashar al-Assad on Thursday during a visit to Damascus to set out a joint military strategy, Syria's state news agency reported, a sign of deepening Iranian influence that has alarmed Israel.General Mohammad Baqeri said Iran was determined to continue supporting the ...

Editorial »

Mr Xi`s new vision for China


CHINESE President Xi Jinping has laid out a far-reaching vision for a more prosperous nation and a dominating role for China in the world as the US President Donald Trump is working on a reverse way isolating his country from the world leadership role. In the domestic front he has ...

International »

May to urge EU leaders to speed up Brexit talks


AFP, Brussels :British Prime Minister Theresa May will appeal to European Union leaders at a crunch summit in Brussels on Thursday to push forward the deadlocked Brexit negotiations.At a meeting moved to a new venue at the last minute due to an eruption of toxic gas, May will urge her ...

Cricket »

Rangpur Riders recruit Brendon McCullum


Sports Reporter :Rangpur Riders have recruited wicketkeeper-batsman of New Zealand Brendon McCullum for the up coming fifth edition of Bangladesh Premier League (BPL).Chief Executive Officer of Rangpur Riders Ishtiaq Sadek said to the newsmen, " We have confirmed that McCullum will join our squad on November 15. He will play ...

Entertainment »

Titaan Chowdhury hosting `Sampan`


'Sampan' is one of the popular programmes of Chittagong centre of Bangladesh Television of present time. Dance, music, magic, etc are presented in this show. Popular face of the small screen Titaan Chowdhury is hosting this programme. Positive side is Titaan is hailed from Chittagong. So it becomes easier for ...

City »

BNP Chairperson Begum Khaleda Zia appeared before the Alia Madrasha Special Court in the city's Bakshibazar on Thursday seeking bail on Zia Orphanage Trust and Zia Charitable Trust Graft cases.


International »

Threats to start war with North Korea `dangerous, short-sighted`: Hillary


Reuters, Seoul :  Former U.S. presidential candidate Hillary Clinton said on Wednesday that "cavalier" threats to start war on the Korean peninsula are "dangerous and short-sighted", urging the United States to get all parties to the negotiating table.Clinton also called on China to take a "more outfront role" in enforcing ...

Sports »

U-12 School Handball Tournament begins tomorrow


Sports Reporter :The Atom Gum Under-12 School Handball (Boys' & Girls') Tournament begins tomorrow at the Shaheed (Captain) M Mansur Ali National Handball Stadium.Bangladesh Handball Federation will organize the handball meet under auspices of Pran Confectionary Limited.In this regard, a press conference was held at the Dutch-Bangla Bank Auditorium in ...

Editorial »

Diplomacy must work in Korean peninsula


THE Korean peninsula is closer to war again as a North Korean official reaffirmed on Monday Pyongyang's commitment to developing a long-range intercontinental ballistic missile capable of reaching "all the way to the East coast of the mainland US." He said his country is currently not interested in diplomacy with ...

Entertainment »

Only Sunny Leone could dare to wish Diwali in this unique manner


Sultry actress Sunny Leone who has millions of die-hard fans around the world has come up with a new video and that too in her own style. Sunny Leone has posted a new video in which she is wishing a Happy Diwali, especially to the boys. This video is, in ...

City »

Liberation Affairs Minister AKM Mozammel Haq speaking as Chief Guest at a discussion meeting organised by the BADC Sramik -Karmachari League on the occasion of its 56th founding anniversary of Bangladesh Agriculture Development Corporation (BADC) at its Conference Room yesterday.


 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news