Developed countries must sign legally binding deal: TIB

Transparency International Bangladesh (TIB) yesterday demanded that developed countries sign a legally binding agreement under the "common but differentiated responsibilities" policy in the November 30 to December 11 climate change summit in Paris and compensate victim countries accordingly.

TIB also demanded incorporating a transparent and accountable financing mechanism, and vulnerable and marginal groups, including indigenous people, in all adaptation activities.

Developed countries have not allocated committed compensation funds and some are trying to offer it as loans, it said, demanding that the government raise its voice t limiting the world's mean temperature rise within two degrees Celsius.

TIB Executive Director Dr Iftekharuzzaman, addressing a press conference at TIB's auditorium in the capital, congratulated Prime Minister Sheikh Hasina on behalf of the anti-corruption organisation for receiving the "Champion of the Earth" award.

He said Bangladesh has to play a leading role in realising the demands of the most vulnerable countries and to protect the interests of the millions of people living there.

He said only half of the US$ 10.2 billion 34 developed countries were supposed to give has been provided to the Green Climate Fund and it was yet to be disbursed.

Both the government-created Bangladesh Climate Change Trust Fund, financed by the government, and Bangladesh Climate Change Resilience Fund, financed by developed countries, are facing a fund crisis, said TIB.