The COP28 climate change conference will be held in Dubai, United Arab Emirates from November 30 to December 12. Bangladesh, a highly climate-vulnerable country, will be keeping a close eye on discussions about climate finance and loss and damage.

Mitigation

One of the main objectives of COP28 is to accelerate efforts to reduce greenhouse gas emissions and phase out the use of fossil fuels. Bangladesh will be looking for concrete commitments from developed countries to provide financial and technical assistance to developing countries to help them transition to clean energy.

Adaptation

Bangladesh is also concerned about the lack of progress on adaptation finance. The Adaptation Fund, which provides grants to vulnerable countries to help them cope with the impacts of climate change, is woefully underfunded. Bangladesh will be calling for a doubling of adaptation funding at COP28.

Loss and damage

Loss and damage refer to the irreversible impacts of climate change that cannot be adapted to. Bangladesh is calling for the creation of a new Loss and Damage Fund to provide financial assistance to countries that have already suffered from climate-related disasters.

Climate finance

Bangladesh is also demanding that developed countries fulfill their promise to provide $100 billion in climate finance per year to developing countries. This funding is essential for Bangladesh to implement its National Adaptation Plan and Nationally Determined Contributions.

At COP28, Bangladesh will be looking for concrete commitments from developed countries to address the climate crisis fairly and equitably. Bangladesh is also calling for a restructuring of the World Bank and its affiliates to provide more concessional and grant-based financing and loan cancellations for least-developed countries.

The conference is a critical opportunity for developed countries to show that they are serious about addressing the climate crisis and helping developing countries adapt to its impacts.