Bangladesh delegation proposed for reduction of military finance in order to increase climate mitigation and adaptation fund at a climate talk in Warsaw on Thursday.
Dr. Mizan R Khan, member of the Bangladesh delegation, told a consultation meeting on financing on climate fund, “the total amount of military budget across the world is about 20 billion. We are in peacetime. If we reduce the military budget and allocate the money for climate change fund that will have a huge impact.”
“One percent of the total military fund will have very good impact on climate fund. It can be a very good source.”
He justified his proposal saying military budget is for deterrence, but climate fund is for survival.
Regarding the private finance to create climate fund, he told on behalf of Bangladesh delegation, that such fund could not be created unless there was a firm commitment from the developed countries.
Representative from Cuba, backing the Bangladeshi proposal, told, it is encouraging.
“It is time to implement the decisions of the previous meetings. Finance should come from the public source and commitment should be there. Private finance can be a complementary source.”
Representative from the Zambia told in the meeting, implementation of commitments after 2020 have to be done within the legally bindings framework.
While representative from the EU, Switzerland in their comments on finance favoured private finance along with the public finance.
The crucial UN climate talks for a new deal to stabilise the GHGs into the atmosphere commenced in the coal-fired Polish capital Warsaw on Monday.
The annual UN climate change negotiations called for countries to look at ways to reduce emissions quickly.
Government officials, NGO activists, member of the civil society, academics and journalists of some 190 countries are participating in the climate talks at the National Stadium in Warsaw with a hope to reduce emission of greenhouse gases by 2020.
