Floods in Lagos, forest fires in the Mediterranean region, food insecurity in Madagascar, Hurricane "Ida," drought in Taiwan, and the eruption of Tongatapu volcano in the South Pacific – these are record-breaking natural disasters that occurred between 2021 and 2022. More than 10,000 people were killed, and the damages exceeded 300 billion dollars, according to a report by the United Nations.
From floods and heat waves to hurricanes and wildfires, these are caused by climate change, which is man-made and could have been avoided.
The problem is that the first victims of climate change are the impoverished countries, such as those in Africa and South America, despite being the least polluting. The primary cause of pollution is the carbon emissions from large factories in developed countries.
Thus, the primary responsibility falls on industrialized nations, such as the United States, European countries, China, and some Arab countries, which have failed to fulfill their commitments to provide funding and assistance to the affected countries.
However, Paris is hosting a summit titled "For a New Global Financial Pact" on the 22nd and 23rd of June. The summit aims to combat poverty and climate change. Some of the summit's goals include:
- Mobilizing funds for climate-vulnerable, developing countries
- Encouraging investment in environmentally friendly projects in emerging and developing nations
Furthermore, French President Emmanuel Macron discussed the summit preparations with Saudi Crown Prince Mohammed bin Salman, who will be one of the prominent attendees at the conference.
Representatives from 100 countries, including China, will also be present. But, Russia, the heads of the World Bank, the International Monetary Fund, and other donor institutions will be absent.
Thus, countries are putting aside political differences and moving toward a common agenda for humanity, as planet Earth belongs to everyone.
However, in Lebanon, which is suffering from the effects of climate change and is vulnerable to heat waves, droughts, and forest fires, it's important to note that its emissions are low, accounting for only 0.3% of global emissions.
In Lebanon, up until today, investments in environmentally friendly projects are limited to individual initiatives from the private sector, particularly in the field of solar energy, as a means to compensate for the electricity crisis.
In this context, Caretaker Minister of Environment, Nasser Yassin, stated that the ministry is enhancing the country's readiness to attract investments in climate change adaptation.
Within this framework, the ministry is establishing an investment fund for green projects, which will be launched during the United Nations Climate Change Conference later this year in the United Arab Emirates.
Moreover, the aim is to attract investments and financing in several sectors, including:
- Shared transportation sector to reduce pollution
- Solar and wind energy generation projects
- Tree planting, intelligent irrigation systems, and automated systems to prevent water wastage, among others
However, it seems that our journey ahead is long because a successful implementation requires a supportive environment, including financial, banking, and political stability.