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Global Impact of Climate Change: Climate change is causing severe disruptions worldwide, including wildfires, heatwaves, flooding, and melting glaciers. It has displaced millions and could displace up to 1.2 billion people by 20501. Economic Consequences: Rising temperatures and high humidity are reducing labor productivity, with significant losses in labor hours and potential GDP declines, especially in Asian countries. Climate Finance: Developing countries need substantial funding to combat climate change, which requires private sector participation. Climate finance supports mitigation and adaptation efforts, with mechanisms like the Green Climate Fund (GCF) and Global Environment Facility (GEF). Bangladesh’s Vulnerability: Bangladesh’s agricultural sector is highly vulnerable to climate change, facing issues like salinization and loss of arable land. The country has received significant climate finance but needs better fund management and transparency to secure more funding. To learn more, read our in-depth write-up on this topic: https://www.lightcastlebd.com/insight…
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