Antalya:State Minister for Environment, Forest and Climate Change Shaikh Faridul Islam has emphasized the urgent need for concessional and grant-based financing for climate-vulnerable countries. He highlighted the importance of adequate, grant-based climate finance to address the adverse impacts of climate change in these nations.
According to Bangladesh Sangbad Sangstha, Faridul urged developed countries and international development partners to boost funding for climate adaptation and expand access to concessional financing for affected nations. He made these remarks as the chief guest at a sideline event titled 'Climate Change Adaptation in Bangladesh From National Success to Global Scale-Up,' held at the Bangladesh Pavilion during the 31st UN Climate Change Conference (COP31) in Antalya, Turkiey.
The event was organized by the Ministry of Environment, Forest and Climate Change and the United Nations Development Programme (UNDP). Faridul noted Bangladesh's significant progress in disaster risk reduction, early warning systems, and local-level adaptation despite being one of the most climate-vulnerable countries. Following the 1991 cyclone that claimed approximately 140,000 lives, Bangladesh initiated comprehensive disaster management strategies, including constructing over 4,200 cyclone shelters and establishing a volunteer network for early warnings.
He also mentioned the creation of a 'Climate Change Trust Fund' and a mechanism to monitor climate-related expenditures across 25 ministries and departments. Bangladesh covers about 88 percent of its total adaptation expenditure with its national budget. However, the country faces a considerable funding gap, needing about $8.5 billion annually for climate adaptation but currently receiving only about $4 billion, with less than $500 million from international sources.
Faridul stressed the need to increase climate finance through grants, enhance funding mechanisms for local institutions, and expedite the operationalization of a fund to address climate-induced loss and damage. He also praised the UNDP for its cooperation in Bangladesh's climate adaptation efforts.
Professor Dr. S. M. Abdul Awal, Chief Coordinator for SDG Affairs, highlighted the intrinsic link between climate adaptation and development in Bangladesh, noting the essential role of international cooperation in adaptation financing even after the country's graduation from Least Developed Country status.
Mohammad Navid Shafiullah, Additional Secretary (Climate Change Wing), discussed the achievements and priorities of Bangladesh's climate adaptation initiatives, including the National Adaptation Plan and the Nationally Determined Contributions. The event featured a documentary on Bangladesh's climate adaptation efforts and a panel discussion with international delegations and media representatives.