PM Hasina at COP26: low climate-related cash flows hamper adaptation

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Prime Minister Sheikh Hasina addresses the CVF-Commonwealth High Level Panel on Climate Prosperity Partnership at the Commonwealth Pavilion as part of COP26 in Glasgow, Scotland on Monday November 1, 2021 PMO

Developed countries must meet their annual climate finance commitment of $ 100 billion with a 50:50 allocation for adaptation and mitigation, PM said

Prime Minister Sheikh Hasina said on Monday that global actions to adapt to climate change have remained largely ineffective due to lack of funding and strong political will.

“To solve this problem, developed countries must meet their annual climate finance commitment of $ 100 billion with a 50:50 allocation for adaptation and mitigation,” she said.

The Prime Minister said this during his speech at the leaders meeting on ‘Action and Solidarity – The Critical Decade’ instead of COP26 in Glasgow, Scotland.

British Prime Minister Boris Johnson and Italian Prime Minister Mario Draghi called the event.

Sheikh Hasina said that as chair of the Climate Vulnerable Forum (CVF) and host of the South Asian office of the Global Center on Adaptation, Bangladesh promotes locally driven adaptation in different countries around the world.

“But global adaptation actions are not effective due to lack of funding and strong political will,” she added.

To address this issue, she mentioned that developed countries must meet their annual climate finance commitment of $ 100 billion with a 50:50 allocation for adaptation and mitigation.

“They must also support vulnerable countries by transferring green and clean technologies at an affordable cost,” she said.

Despite being a climate-vulnerable country, Bangladesh is a global pioneer in adaptation and mitigation and resilience initiatives, the prime minister said.

Bangladesh plants 30 million saplings this year and will launch the “Mujib Climate Prosperity Plan” named after Bangabandhu Father of the Nation Sheikh Mujibur Rahman to guide the country’s development trajectory towards a strategic low-carbon path

The Prime Minister said that Bangladesh had recently submitted an ambitious NDC (Nationally Determined Contributions). “We also drafted our national adaptation plan with a significant improvement in our adaptation initiatives. “


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