From Pre-COP 28 (Abu Dhabi):

Bangladesh, represented by Environment, Forest, and Climate Change Minister Shahab Uddin, has emphasized the urgent need for reliable grant-based financing to address climate adaptation challenges in the world’s most vulnerable developing nations.

Minister Uddin expressed his concerns, stating, “We expect developed countries to uphold their commitment to collect $100 billion annually between 2020 and 2025 while addressing the funding shortfall from the past three years.”

These remarks were made during the Pre-COP 28 Ministerial Conference in Abu Dhabi, United Arab Emirates, on Monday, October 30, as detailed in a press release from Dhaka.

Minister Shahab Uddin stressed the importance of clarity in how these commitments will be fulfilled, reported, and accounted for in a timely manner. He highlighted that failure to do so could compromise credibility and hinder progress in addressing climate challenges.

Additionally, he argued for the New Collective Quantified Goal (NCQG) for climate finance to be set at $100 billion or significantly higher than the year-end target. Prioritizing grants over loans and ensuring alignment with the real needs of developing countries are key aspects of this proposal, especially in light of the inevitable impacts of climate change.

The environment minister urged all parties to commit to a shared definition of climate finance that promotes accountability and transparency in both climate and non-climate finance flows. The outcome of COP 28 should emphasize the responsibility of developed countries in leading the provision and mobilization of climate finance in developing nations.

During this meeting, Saber Hossain Chowdhury, the Prime Minister’s Special Envoy on Environment and Climate Change, and President of the Standing Committee on the Ministry of Environment, Forest, and Climate Change, along with Dr. Farhina Ahmed, Secretary of the Ministry of Environment, Forest, and Climate Change, represented Bangladesh as part of the delegation.

Pre-COP28, a preparatory meeting for the 28th Conference of Parties of the UNFCCC, is set to take place in person in Abu Dhabi, United Arab Emirates, on October 30-31, 2023.

Pre-COP28 marks a critical milestone on the path to COP28 and underscores the global need for united efforts to transform our current trajectory and deliver effective solutions to the climate crisis. As the final formal ministerial engagement before COP28, this gathering presents a crucial opportunity for the world to rally behind a shared ambition to reshape the global response to the climate crisis.

Source: BSS