Environment, Forest, and Climate Change Adviser Syeda Rizwana Hasan today called for public funding to be prioritized for climate adaptation.
According to a message received today, she made the call while speaking at a High-Level Ministerial Dialogue on Adaptation Finance at COP-29 in Baku, the capital of Azerbaijan.
The event in meeting room 11 emphasized the urgency of channeling adaptation funds through UNFCCC mechanisms like the Green Climate Fund (GCF) and ensuring a balance between mitigation and adaptation financing.
Highlighting Bangladesh’s vulnerability to climate change impacts, Rizwana said: “Bangladesh strongly urges dedicated adaptation financing windows and allocations for climate-vulnerable countries to protect millions and build resilience.”
She stressed enabling national entities to access funds and warned against reliance on market-based loans, which can exacerbate debt burdens in developing countries.
Bangladesh’s National Adaptation Plan (NAP) estimates an annual requirement of $8.5 billion for adaptation. However, in two decades, the Adaptation Fund and Least Developed Countries Fund (LDCF) have collectively generated only $3 billion for 160 countries with significant shortfalls.
