Bangladesh Prime Minister Tarique Rahman has called on world leaders to overhaul the global climate finance system also urging rich nations to provide grants rather than debt-increasing loans to climate-vulnerable countries.
Addressing the high-level segment of the UN Climate Change Conference (COP-31) in Antalya, Turkiye on Thursday also Prime Minister noted that despite contributing less than 0.5 percent of global greenhouse gas emissions, Bangladesh stands on the frontlines of climate change.
To address the funding gap, he proposed five urgent actions: allocating at least 50 percent of international climate finance to adaptation introducing debt-relief measures such as debt-for-climate swaps, ensuring fair technology transfer, accelerating the shift to renewable energy and adopting the "Belém-Antalya Action Mechanism" for a just transition.
Highlighting domestic initiatives toward building a trillion-dollar, climate-resilient economy, Tarique Rahman said Bangladesh aims to generate 20 percent of its electricity from renewable sources by 2030 including developing 4,000 megawatts of solar power.
He also outlined major environmental projects over the next five years, including planting 250 million trees with restoring coastal mangroves and excavating 20,000 kilometres of rivers and canals alongside the Padma and Teesta Barrage Master Plans to reduce flood risks and recharge groundwater. Additionally he noted the country’s push for green industry boasting nearly 300 LEED-certified garment factories alongside electric vehicles, jute products and a national carbon-trading framework.
Thanking Turkiye for hosting and Australia for leading negotiations, Prime Minister Tarique Rahman urged world leaders to turn commitments into meaningful action to keep the 1.5-degree Celsius global warming target within reach.
