Advocating Global South Rights
Bangladesh Demands Equitable Climate Finance
- Bangladesh demands grant-based and predictable climate finance at COP31
- Highlights gap in USD 300 billion annual adaptation needs by 2035
- Climate finance emphasized as equity and historical responsibility, not charity
Bangladesh used a side event at COP31 to call for climate finance that is predictable, grant-based, and matched to the scale of need in the Global South. On Tuesday (November 10) in Antalya, the session was organized at the Bangladesh Jute Pavilion in the Green Zone by the Ministry of Foreign Affairs alongside partner organizations.
According to relevant sources, speakers emphasized that while the New Collective Quantified Goal sets a floor of USD 300 billion annually by 2035 from developed nations, actual public adaptation delivery remains barely a tenth of the estimated USD 305 billion required. Developing and island nations are severely burdened by non-concessional debt crowding out climate action.
Bangladesh’s own National Adaptation Plan (2023–2050) requires USD 230 billion, with major international support still pending. Bangladesh urged that public finance led by developed nations must remain central and grant-based, aligned with national plans rather than donor preferences.
The delegation insisted climate finance is not charity but a matter of historical responsibility under the principle of common but differentiated responsibilities. The session also showcased Bangladesh’s sustainable jute sector as a practical model for targeted climate finance, expressing hope that these exchanges will bolster advocacy through the remainder of negotiations ending November 20. //DBTech/ANSCN/RESME/FOPTE//
