Bangladesh incurs 1.81 percent of GDP loss annually due to extreme weather events and over the period of 1962-1988, the country lost about 0.5 million tonnes of rice annually for floods, which accounts for nearly 30 percent of country’s annual food grain imports.

Since 1970, the country has experienced 36 cyclonic storms resulting on over 450,000 deaths and immeasurable economic losses.

Bangladesh Bank Governor Dr Atour Rahman made the observations while speaking at the ongoing UN Climate Change Conference– CoP-18 (Conference of the Parties) at Ezdan Hotel Conference Centre in Qatar Sunday.

Speaking at the conference, Atiur said Bangladesh falls into the group of most climate change vulnerable countries in the world despite her insignificant share of global greenhouse gas (GHG) emission in comparison with other developing and developed countries.

According to Intergovernmental Panel on Climate Change (IPCC), Bangladesh will be among the worst victims of climate change as its sea level is apprehended to rise due to escalating atmospheric temperature.

Mentioning that frequency of cyclone-storms is projected to increase, forcing millions of people to migrate, he said food and energy security will be threatened leading to rise in diseases and frequency of natural calamities. Besides, high density of population will make the problem worse.

Bangladesh will have to tackle these challenges despite the fact that her global share of GHG is only 0.25 percent in Bangladesh in comparison with 5.78 percent in India, 23.33 percent in China, 18.11 percent in USA and 14.04 percent in the EU, said Atiur.

The BB chief exchanged views with the central bank chief in Qatar on climate change issues and Bangladesh Bank’s green banking activities and various banking issues to strengthen Bangladesh’s banking sector.

United Nations Framework Convention on Climate Change (UNFCCC) recognised the special needs of developing countries, particularly those highly vulnerable to climate change.

According to UN Article 4.4, developed countries are to assist developing countries vulnerable to climate change in meeting costs of adaptation. Article 4.9 attaches special priority to LDCs in relation to funding, which includes funding for adaptation.

Cyclone Sidr in 2007 caused 3,406 deaths. Over 55,000 people sustaining physical injuries. 273,000 homes were destroyed and more than 900,000 were damaged. 855,000 acres of crops were damaged and nearly 30,000 acres were completely destroyed, he referred.

243,000 houses were completely destroyed and over 373,000 were partially damaged and more than 7,103 people were wounded and more than 3,928,238 people were affected by the cyclone Aila in 2009.

Almost 80 percent of the total area of the country is prone to flooding. South and South-eastern parts of the country were hit by tropical cyclones during the last few years.

Almost the whole coastal belt along the Bay of Bengal is experiencing salinity problem. North and North-western regions of the country are suffering from extreme temperature problem.

Around 75 percent area of mangrove forest, Sundarban (60007 Sq. km) will submerse if the sea level increases 45 cm. If the sea level rise 1 m then the islands of Bay of Bengal and whole Sundarban will be destroyed, said Atiur.

Bangladesh, as a LDC, is not obligated to mitigate or reduce GHG emission (in UNFCCC negotiation terms). However, the government considered to maintain a low carbon development path. Bangladesh has made notable contribution towards establishing 'Green Climate Fund' and extending 'Second Commitment Period of Kyoto Protocol'. ‘Bangladesh Climate Change Strategy and Action Plan, 2009 has been drawn out to tackle challenges of climate change. 'Climate Change Trust Act, 2010' has been enacted.

Bangladesh government has already invested $ 10 billion over the last three decades to make the country’s climate resilient and less vulnerable to disasters. Over the past three fiscal years (FY10 to FY12), the government has allocated $ 300 million (USD 100 million every year), for projects largely focused on adaptation. Another Fund called Bangladesh Climate Change Resilience Fund (BCCRF) has been established in 2010 with funds provided by the development partners, Dr Atiur said.

Besides, the central bank of Bangladesh is actively responding to climate change through policy formulation and implementation for green banking, creation of refinance programmes for financing environment-friendly projects through banks and financial institutions and ensuring environment friendly business practices in the financial sector through adaptation of automation and digitization.

News: The Daily Sun/Bangladesh/3rd-Dec-12