Developed countries must fulfil their commitment of annual $100 billion climate finance with 50:50 allocation for adaptation and mitigation, says the premier
Prime Minister Sheikh Hasina on Monday said global actions for adaptation to climate change have virtually remained ineffective due to the lack of finance and strong political will.
“To address this, developed countries must fulfil their commitment of annual 100-billion-dollar climate finance with 50:50 allocation for adaptation and mitigation,” she said.
The prime minister said this while delivering her speech in the Leaders’ Meeting on “Action and Solidarity–The Critical Decade” at the COP26 venue in Glasgow, Scotland.
British Prime Minister Boris Johnson and Italian Prime Minister Mario Draghi convened the event.
Sheikh Hasina said as the president of the Climate Vulnerable Forum (CVF) and the host to the South Asian office of the Global Centre on Adaptation, Bangladesh is promoting locally-led adaptation in different countries of the world.
“But global adaptation actions are not being effective due to lack of finance and strong political will,” she added.
To address this, she mentioned that developed countries must fulfil their commitment of annual $100 billion climate finance with 50:50 allocation for adaptation and mitigation.
“They also need to support vulnerable countries by transferring green and clean technologies at affordable cost,” she said.
Despite being a climate-vulnerable country, Bangladesh is a global pioneer on adaptation and mitigation initiatives and resilience, said the prime minister.
Bangladesh is planting 30 million saplings this year and is going to launch the “Mujib Climate Prosperity Plan” named after the Father of the Nation Bangabandhu Sheikh Mujibur Rahman to guide the country’s development trajectory to a strategic low-carbon pathway
The prime minister said Bangladesh has recently submitted an ambitious NDC (Nationally Determined Contributions). “We’ve also drafted our National Adaptation Plan with significant enhancement of our adaptation initiatives