Bangladesh needs USD 230 billion for the next 27 years, which is about USD 8.5 billion per year as new and additional finance to implement its National Adaptation Plan (NAP).
For the full implementation of the NDC targets of Bangladesh, the country needs USD 143 billion from international support to implement conditional action programmes. It is necessary to ensure easy and quick access to climate finance as well. Environment, Forest and Climate Change Minister Md Shahab Uddin made this opinion in the first Copenhagen Climate Ministerial meeting with the theme ‘Driving Climate Action, Implementation, and Progress’ held at Eigtveds Pakhus in Copenhagen, Denmark on Monday.
The environment minister said the developed countries must keep their commitments of mobilising 100 billion USD a year from this year to support actions to tackle climate change effects 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, he said.
The minister said the financial mechanism must be settled for the effective implementation of NAPs. Bangladesh urges 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 further said parties must reach a consensus on several critical issues regarding the ‘Mitigation Work Programme’ to reduce global GHG emissions by 43 percent by 2030 in order to keep 1.5℃ within reach. The Mitigation Work Programme should facilitate creating enabling conditions for the effective implementation of mitigation actions in the most vulnerable developing countries through the mobilisation of adequate financial resources, technology transfer and capacity building.
Earlier, the minister joined as the chief guest in a views exchange meeting with the Bangladeshi community in Denmark held in Bangladesh Embassy in Denmark chaired by the AKM Shahidul Karim, ambassador of Bangladesh to Denmark.