Encourage SMEs to embrace climate adaptation: ICCB
The government should encourage micro, small and medium enterprises to take on appropriate climate mitigation and adaptation measures, said the International Chamber of Commerce Bangladesh (ICCB).
They should develop good practices that are flexible to innovation across nationally determined contributions, in particular for tackling the social and economic impacts of the pandemic, it said.
The chamber shared the views in its quarterly news bulletin for April-June 2021 published yesterday.
"(The) MSMEs are the foundation of the global economic system -- they make up 90 per cent of businesses worldwide, comprise an estimated 80 per cent of employment in many countries, collectively employ two billion people," it said.
"Yet, they are not a dominant voice and presence in the UNFCCC process," it said.
It also recommended creating a dedicated and recognised space inside the UNFCCC for enhanced consultation and dialogue with business and employers, inclusive of the small-scale firms.
It welcomed announcements at the US Leaders' Climate Summit and G7 meetings of increased pledges for climate change mitigation and finance for the small-scale businesses.
These pledges do not yet place the world on track to achieve committed UN Climate Change Conference (UNFCCC) Paris Agreement actions, the business organisation also said in a press release.
"With global temperatures rising, along with changing weather patterns, sea-level rise, increases in droughts and floods, the world's most vulnerable populations are facing ever-increasing risks, food insecurity and have fewer chances to break out of poverty and build better lives," it said.
According to Climate Action Tracker, the sum of all the targets submitted so far would limit global warming to an estimated 2.4°C by the century's end.
This is still short of limiting global temperature rise by 2°C – ideally 1.5°C – by the end of the century as per the Paris Agreement.
However, developed countries had committed to jointly mobilise $100 billion per year by 2020 in support of climate action in developing countries more than a decade ago.
But according to the UN, the $100b target is not being met (the latest available data for 2018 is $79b), even though climate finance is on an "upward" trajectory. So, there is still a big gap in finance.
According to the UN, the annual $100b commitment "is a floor and not a ceiling" for climate finance.
The UN Environment Programme (UNEP) estimates that adaptation costs alone faced by just developing countries will be between $140 billion to $300 billion per year by 2030, and $280 billion to $500 billion annually by 2050.
The ICCB thinks this troubling gap should give the international community impetus to consider how to unleash and engage further action both now and over the longer term across society.
"UNFCCC COP26 in Glasgow, and over the course of the Paris Agreement five-year review cycle, governments have the unique opportunity to widen the circle of implementation for inclusive ambition, with a particular focus on countries' nationally determined contributions as a vehicle in the run-up to the next," the press release said further.