After a week of grim news, at least some light shone yesterday when a new window of fund termed Loss and Damage has been finalised. Under the window, countries affected by quick and long-term climate change will be able to access funds.
The window was proposed at the last climate conference at Cancun and its modalities were approved yesterday.
Bangladesh and Canada are the co-chairs of this new window, which will provide ways for countries to assess their loss and damage from climate change.
Once they can quantify their damage, the countries will then be able to demand funds from the window.
So, when a cyclone will hit Bangladesh, it will follow the modalities to assess the damage and then claim funds.
The new window will go into operation at the next climate conference at Doha next year.
Meantime, the United Nations Framework Convention on Climate Change (UNFCC) yesterday at a press conference said not all hopes are lost for the Kyoto Protocol and funds.
Christiana Figueres, executive secretary of the UNFCC that hosts the conference, said a ray of hope can be seen at least on two issues — Kyoto protocol second commitment period and an adaptation fund.
She said many countries have agreed to commit to the second commitment and hoped that a compromise agreement will take place.
Kyoto protocol, the only legally binding emission agreement that was signed in 1997 is to expire in 2012 and efforts are afoot to give it a new lifeline by asking countries to assign it for a second term.
But complexities have arisen as US is not interested to sign it and neither is India.
-With The Daily Star input
