UNFCC Current Affairs
Bangladesh has become the first country in the world to receive funds from United Nations for its fast growing Solar Home Systems.
In this regard, UN Framework Convention for Climate Change (UNFCCC) has issued carbon credits (CC) worth 3.56 million US dollars to two Bangladeshi organisations.
The two organisations are
- Grameen Shakti: Founded by Nobel Laureate Muhammad Yunus with an aim to take clean solar power systems and communication technology to villages.
- Infrastructure Development Company Ltd (IDCOL): It state-owned development financial institution in Bangladesh. It finances and promotes infrastructure and renewable energy projects in the country.
The Solar Home Systems of Bangladesh is supported by various international organisations like Global Environment Facility (GEF) and World Bank. Under this enviro-friendly initiative, around 6 million systems have been installed in Bangladesh covering over 10% of its 160 million population. This system has become key source electricity for lighting, running TVs & fans and charging mobile phones by using renewable energy in rural households of Bangladesh
It should be noted that this project plays important role in Bangladesh’s efforts to tackle climate-change as it one of the lowest carbon emitters country but most vulnerable to climate-change.
National Bank for Agriculture and Rural Development (NABARD) got accredited by the Green Climate Fund as a national implementing entity for undertaking climate change related projects in India.
In 2010 the United Nations Framework Convention on Climate Change (UNFCCC) had set Green Climate Fund (GCF) to help developing countries to finance clean energy projects other mitigation efforts and adaptation to climate change.
Accordingly NABARD is the only national implementing entity in the country for undertaking climate change projects.
NABARD will get funds in the form of concessional loan or in form of grant or through other modalities approved by the GCF Board.
In line of this NABARD has submitted a proposal to GCF for financial support on ‘Mitigating climate change and enhancing adaption for farmers through agro-forestry project set by Haryana Government.
Haryana government Project:
- Haryana Government’s project plans to cover an area of 30,000 hectare under the agro-forestry plantation of fast growing canal eucalyptus species.
- Project plans mitigation of climate change by sequestering carbon dioxide from atmosphere.
- It also plans to lower ground water table as in Haryana due to excess canal irrigation water logging is serious issue on the farm lands.
It is the process of capturing and long-term storage of atmospheric carbon dioxide through physical, chemical or biological processes. Co2 is artificially captured and deposited in a reservoirs or carbon sinks.