Finance is obligatory for developed countries for the survival of LDCs and MVCs

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Poland, 12 December 2018: Civil Society leaders from MVCs (Most Vulnerable Countries) and LDCs (Least Developed Countries) termed the negotiation outcome frustrating in a press conference held today in the CoP 24 Global Climate Negotiation in Poland. They demanded to finalize the Paris Rulebook as urgent action within this CoP-24. They also demanded to ensure first-start financing by developed countries that is in fact important for adaptation actions for MVCs and their survival.
The Press conference titled “MVC & LDC Peoples’ expectations and CoP 24” was held at the meeting room of the climate conference center, in Poland where CSO leaders including Dr. Ainun Nishat (Delegate of Bangladesh govt. Negotiation Team), Mr. Soumya Datta (Member, Advisory Committee of UNFCCC Climate Change Technology Center and Network-CTCN and Coordinator-Climate Action Network- South Asia, India), Ms. Rushka Sthapit (LDC Watch), Md. Shamsuddoha (CPRD, Bangladesh) and Mr. Manjeet Dakhal (LDC Negotiator) participated and spoke. The key demand is presented by Mr. Golam Rabbani (Research Fellow, Bangladesh Center for Advance Study) and Aminul Hoque (EquityBD) from Bangladesh.
Presenting key demand, speakers said that the bleak ongoing performance and progress of CoP 24 negotiation is frustrating for us and there is no particular text for finalizing the Paris Rulebook, financial commitment with first-start financing, and new Goal of Finance post-2020 period for implementation of MVC & LDCs adaptation actions. Favoring LDC’s interest, they put four demands including i. Finalize the Paris Rule book as urgent action and within CoP-24, ii. Ensure first-start financing by developed countries for MVCs to start their most urgent adaptation actions, iii. Ensure easier access to GCF for MVCs Govt.-NGOs stakes and iv. WIM-Excom. (Executive Committee of Warsaw International Mechanism) report on displacement and loss & damage must be linked with GST (Global Stock Take) and Transparency Framework with separate financial mechanisms.
Mr. Shamsuddoha said that making the rulebook on implementation of the Paris Agreement is very much inadequate and itself flout due to overwhelming huge divergences of views among Parties on many issues. CoP-24 leaders will have to change their mindset, stop the vested role-playing, and engage in the negotiation giving more and balanced focus to both MVC’s interests. So that Paris Rule book to be developed based on the science limiting 1.5-degree warming, he opined.
Mr. Soumya Datta said if we want really transformative changes, finance is crucial. But the rich countries are playing a dirty game because the US$100 billion dream is not coming anywhere yet and leveraging private finance to make a burden for MVC & LDCs in the name of climate finance. So it’s better to start repenting the financing agreement and its process. The rulebook may talk a lot about reporting, verification and review, but these cannot be productive until it is owned by the rich countries and that finance is really needed to lower global temperature.
Dr. Ainun Nishat said The IPCC Special Report on 1.5°C rise, the stakes of the current ambition of GHG reduction, and said there is a “huge moral, ethical imperative” for leaders to “step up” for new ambition. So we reiterating that stocktaking is an opportunity for rich and developed countries to reconsider the assessment and enhancement of GHGs reduction targets and implementation of ambition in view of the 1.5-degree temperature goal.

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