Bangladesh says $300 billion climate finance goal falls short, calls for more support

Bangladesh's Prime Minister Tarique Rahman urged wealthy nations to increase climate financing to help the country cope with escalating climate change threats and meet its ambitious domestic climate agenda.

Bangladesh called on Tuesday for more ​funds and faster support for ​developing countries facing escalating threats from ‌climate ​change, saying the global climate financing goal of $300 billion per year fell short of their needs. Speaking at the World ‌Economic Forum's Annual Meeting of the New Champions in Dalian, China, during his first overseas trip since taking office, Prime Minister Tarique Rahman urged wealthy nations to honour climate ‌commitments ahead of the United Nations' next climate negotiations in November. Bangladesh, one ‌of the world's most vulnerable countries to climate change, is seeking support to fund projects that would help it cope with rising floods, cyclones, river erosion and saltwater intrusion, while pursuing an ambitious ⁠domestic climate ​agenda. Countries had agreed ⁠to hike their annual climate finance provision to $300 billion by 2035 at the U.N. climate summit ⁠in 2024, but Rahman said that was not enough to meet the mitigation and adaptation requirements ​for developing countries.

He called for greater mobilisation of the U.N.'s Green Climate Fund ⁠and urged governments to make climate finance more accessible. "The Loss and Damage Fund must move from ⁠promise ​to delivery, with accessible and predictable support for victim nations," he said.

Rahman said adaptation measures, crucial for countries like Bangladesh, must stand alongside emissions reduction efforts, pointing ⁠to domestic initiatives that include dredging 20,000 km (about 12,500 miles) of rivers and ⁠canals to ⁠reduce flooding and planting 250 million trees. "Climate resilience cannot be built by any country alone," he said, calling for stronger global ‌partnerships spanning finance, ‌technology and action.