$230 billion is needed to implement the climate adaptation plan

Environment, Forest and Climate Change Minister Shahab Uddin said that Bangladesh needs 230 billion US dollars for the next 27 years to implement the National Climate Adaptation Plan. That is, about 8.5 billion US dollars are needed every year as new and additional money. Bangladesh needs USD 143 billion in conditional international assistance to fully implement the NDC targets. We need to ensure easy and fast access to climate finance.

He said these things at the first ministerial climate conference on the theme of 'Driving Climate Action, Implementation and Progress' held in Copenhagen, Denmark on Monday (March 20).

Shahab Uddin said developed countries must implement their commitment to provide 100 billion US dollars annually from this year to support measures to combat climate change in the most vulnerable developing countries, with an equal balance between adaptation and mitigation. The most vulnerable developing countries urgently need new, predictable and adequate grant-based public financing for adaptation beyond voluntary donor support.

The Environment Minister said that the financial arrangements need to be resolved for the effective implementation of NAP. Bangladesh called for double adaptation financing to developed countries to help developing countries adapt to the adverse effects of climate change. In line with the position of the LDC Group, Bangladesh expects a more active role from developed countries to ensure an ambitious contribution of climate finance for grant-based adaptation assistance to the most climate-vulnerable countries.

He said that to keep global warming within reach of 1.5 degrees Celsius, countries should agree on several important issues related to the 'Mitigation Work Program' to reduce global greenhouse gas emissions by 43 percent by 2030. Mitigation programs should create enabling conditions for the effective implementation of mitigation activities in the most vulnerable developing countries through adequate financial resources, technology transfer and capacity building.

Earlier, the minister attended the exchange meeting with the Bangladeshi community held at the Embassy of Denmark under the chairmanship of Ambassador AKM Shahidul Karim as the chief guest.

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