Environment, Forest and Climate Change Minister Md Shahab Uddin said for the implementation of the Bangladesh National Adaptation Plan, Bangladesh needs a total of $373 billion in which they need $230 billion for the next 27 years, which is about $8.5 billion per year as new and additional finance.
He also said for the full implementation of the NDC targets of Bangladesh, the country needs $143 billion from international support to implement conditional action programs. “We need to ensure easy and quick access to climate finance as well.”
The minister said this in the first Copenhagen Climate Ministerial with the theme “Driving Climate Action, Implementation, and Progress” held at Eigtveds Pakhus in Copenhagen, Denmark on Monday.
He said that the developed countries must keep their commitments of mobilizing $100 billion a year from this year to support actions to tackle climate change in the most vulnerable developing countries with an equal balance between adaptation and mitigation. The most vulnerable developing countries urgently require new, predictable, and adequate grant-based public financing for adaptation beyond voluntary donor assistance.
The minister said the financial mechanism must be settled for the effective implementation of NAPs.
Bangladesh urged developed country parties to double adaptation finance to support developing countries in their efforts to adapt to the adverse effects of climate change. In line with the position of the LDC group, Bangladesh expects a more proactive role from the developed countries to ensure the ambitious contribution of climate finance towards grant-based adaptation support to the most climate-vulnerable countries.
The minister said parties must reach consensus on several critical issues regarding the “Mitigation Work Program” to reduce global GHG emissions by 43% by 2030. The Mitigation Work Program should facilitate creating enabling conditions for the effective implementation of mitigation actions in the most vulnerable developing countries through the mobilization of adequate financial resources, technology transfer and capacity building.
Earlier, the minister joined as the chief guest in a view exchanging meeting with the Bangladeshi community in Denmark held in Bangladesh Embassy in Denmark chaired by the AKM Shahidul Karim, ambassador of Bangladesh to Denmark.