Bangladesh Prime Minister Tarique Rahman has urged the international community to allocate at least 50% of global climate finance to adaptation, saying climate-vulnerable countries need grants rather than additional loans that increase their debt burdens.
Addressing the high-level session of the United Nations Climate Change Conference, COP31, in Antalya, Turkey, on Thursday local time, Rahman also called for reliable financial support, access to modern technology and stronger backing for adaptation initiatives in vulnerable countries.
“Climate-vulnerable countries need grants, not more loans that add to their debt,” the prime minister said.
Rahman said Bangladesh remained on the frontline of climate change despite contributing less than 0.5% of global greenhouse gas emissions. Bangladesh’s government, he said, was committed to building a climate-resilient and sustainable economy worth $1 trillion.
Guided by the “Bangladesh First” vision, the government aims to advance economic growth and environmental protection as complementary goals, Rahman said. Industrialisation and development activities must protect nature and maintain environmental balance, he added.
“The government elected by the people has set a target to meet 20% of electricity demand from renewable sources by 2030,” Rahman said. “We have taken this step to achieve net-zero emissions in line with the Paris Agreement.”
Bangladesh is working towards generating 4,000 megawatts of solar power with support from special tax incentives, while also encouraging waste-to-energy initiatives, he said.
Rahman said Bangladesh has nearly 300 LEED-certified ready-made garment factories as part of its green industrialisation efforts. He also highlighted initiatives to promote environmentally friendly transport, particularly electric vehicles, and increase the use of eco-friendly products such as jute bags.
A national framework for carbon trading is also being developed, he said.
Rahman said Bangladesh plans to plant 250 million trees over the next five years to protect the environment.
“To protect the environment, we are excavating 20,000 kilometres of rivers and canals alongside the Padma Barrage and Teesta Barrage master plans,” he said. “The objective is to retain water, reduce flood risks, revive wetlands and raise groundwater levels.”
Bangladesh is also restoring mangroves on reclaimed coastal land to protect communities and strengthen climate resilience, he added.
Describing the existing climate-finance system as inadequate, Rahman said it did not sufficiently account for the needs and priorities of developing countries. Climate-related losses and damage are placing a major burden on national economies, while rising debt-servicing pressures and limited financial resources are worsening the situation, he said.
Invoking the principle of “common but differentiated responsibilities and respective capabilities”, Rahman proposed five urgent measures.
First, he said, at least 50% of international climate finance should be allocated to adaptation according to each country’s priorities, while also supporting emissions-reduction efforts.
Second, he called for urgent debt-relief measures for climate-vulnerable countries, including climate-resilient debt clauses and debt-for-climate swaps.
Third, he urged equitable access to environmentally friendly climate technologies and necessary support for their transfer to developing countries.
Fourth, he called for an accelerated transition to renewable energy through affordable financing, skills development and a just energy transition.
Fifth, he proposed adopting the Belém-Antalya Action Mechanism at COP31 for a just energy transition, based on fair finance and fair trade.
Rahman also called for the participation of women and young people in climate action and said decent green jobs must be created. Global greenhouse gas emissions must be reduced to keep the rise in global temperatures within 1.5 degrees Celsius, he said.
The prime minister expressed hope that COP31 would deliver meaningful, balanced and ambitious outcomes, particularly reflecting the interests of countries most vulnerable to climate change.
“Let us strengthen global solidarity and build a sustainable future together,” Rahman said.