Lack of finance, weak political will fail climate actions: PM

Prime Minister Sheikh Hasina said that the global adaptation actions are not being effective due to a lack of finance and strong political will.

“To address this, developed countries must fulfil their commitment of annual $100 billion climate finance with 50:50 allocations for adaptation and mitigation,” she said, addressing the Leaders’ Meeting on ‘Action and Solidarity - The Critical Decade’ at the COP26 venue.

The Prime Minister further said that the developed nations also need to support vulnerable countries by transferring green and clean technologies at affordable cost.

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

As the President of the Climate Vulnerable Forum (CVF) and the host to the South Asian office of Global Centre on Adaptation, Sheikh Hasina said Bangladesh is promoting locally-led adaptation in different countries of the world.

She said despite being a climate-vulnerable country, Bangladesh is a global pioneer on adaptation and mitigation initiatives and resilience.

“In addition, 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 premier informed the global leaders.

She said Bangladesh has recently submitted an ambitious nationally determined contribution (NDC).

In addition, the premier said, Bangladesh has also drafted National Adaptation Plan with significant enhancement of its adaptation initiatives.

ARR