The Least Developed Countries (LDCs) called for the world’s largest greenhouse gas emitters to act on their commitment to reducing emissions. The 46 LDCs emit less than one per cent of the global emission. However, they bear most of the brunt of climate change. The LDCs say climate finance also needs to be scaled up to focus on adaptation to climate change during the ongoing global climate summit.
The UN Environment Programme’s Emission Gap Report 2021 showed that the commitments made by the countries are nowhere close to what the world needs to limit global warming to 1.5 degree celsius. The LDCs want the global carbon emission halved by 2030.
The LDCs are home to over one billion people in Africa, the Asia-Pacific and the Caribbean. The climate crisis has already impacted these countries despite contributing the least to the rising global temperature. According to the Chairperson of the LDCs, Sonam P Wangdi, one in every 10 people in the LDCs is affected by climate change.
“Already homes are lost to sea-level rise in the Pacific. Climate change-induced famine is taking lives in Madagascar. And floods have displaced millions in Bangladesh. We need to rebuild and secure livelihood. That is very important for us. So far, the progress here is disappointing and, in a way, also frightening,” he said.
The LDC leaders also put forward the need to map the path to net-zero global emission by 2050. And countries require ‘climate finance’ to support climate change actions. Climate finance refers to money that richer nations that are responsible for greenhouse gas emissions give to poorer nations to address and adapt to climate disasters.
The developed countries have failed to meet the pledge made in 2009 to provide USD 100bn a year in climate finance by 2020.
“Even though there are lots of statistics out there but for the LDC, we get no more than 10-14 per cent. We’re requesting the government, the big emitters to stop skirting responsibilities,” the LDCs’ Chairperson said.
The USD 100bn pledge is far below the need of vulnerable countries to cope with climate change. According to United Nations, vulnerable countries will need up to USD 300bn per year by 2030 for climate adaptation alone. That’s aside from potential economic losses from crop failure or climate-related disasters.
Accessing climate finance is yet another challenge that LDC’s are dealing with. LDCs say the new goal for climate finance must be based on the actual needs of the countries and should be delivered as grants to the LDCs. The group added that the process for availing themselves of the fund also needs to be harmonized.
“If you apply for a loan following a climate disaster, it takes four or five years. It doesn’t make sense. You are not able to help your people, not able to finance, rebuild or secure livelihoods. We end up borrowing and most of the LDC’s are now into debt traps. Things are getting difficult with this climate emergencies along with the pandemic,” added the LDC Chairperson.
As per the book, ‘Loss and Damage from Climate Change’, losses and damages are estimated to cost USD 290-580bn by 2030 in developing countries alone.
The LDCs thus want to see loss and damage being prioritized at the COP26. The COP26 will go on until the 12th of November.
Sangay Chezom
Edited by Sonam
