Transparency International Bangladesh (TIB) on Tuesday expressed deep concern as the United Nation climate conference (COP-25) failed to make any significant progress to resolve the global problem.
The UN Conference of the Parties (COP25) took place under the presidency of Chilean government at Madrid in Spain from December 2 to December 13.
The developed countries pledged to provide additional $ 100 billion on adaptation in 2020 which never came on the discussion table of COP25, creating uncertainty about its long term funding, said TIB Executive Director Dr Iftekharuzzaman.
No decision was made over forming separate fund for facing the loss and damage, he said, adding that the Intended Nationally Determined Contributions (INDC) was also not updated to reduce the global temperature, said a press release.
Overall, the draft of the Paris Agreement (Rule Book) which was approved in COP24 failed to get finalisation in this year’s conference, the TIB chief added.
Every stakeholder had hoped that a decision will come on separate compensation fund under Warsaw International Mechanism and its regulation, work plan, and challenges will be identified in the conference, he said. “But that never happened.”