PM at COP31: climate-vulnerable nations need grants, not new loans
At a glance
- Bangladesh wants at least 50 percent of international climate finance allocated to adaptation.
- The PM sought debt relief, climate-resilient debt clauses and debt-for-climate swaps for debt-stressed vulnerable countries.
- Bangladesh proposed that COP31 adopt a 'Belém-Antalya Action Mechanism'; the conference runs until 20 November.
Prime Minister Tarique Rahman has called for grants, not new loans, for countries at risk from climate change. Speaking at the high-level segment of the UN climate conference COP31 in Antalya, Turkey, on Thursday (12 November), he said the current international climate finance system does not adequately reflect the needs and priorities of developing countries.
Putting together reports from several outlets, the Prime Minister made 5 specific proposals in his speech. At their centre is one message: vulnerable countries must not be loaded with more debt.
The PM's 5 proposals
- Half of the money for adaptation: at least 50 percent of international climate finance should go to adaptation, in line with each country's own priorities, while support for cutting emissions continues.
- Debt relief: emergency debt support for vulnerable countries, 'climate-resilient debt clauses' and 'debt-for-climate swaps'.
- Fair access to technology: helping developing countries obtain green technology and supporting its transfer.
- A faster shift to renewable energy: through affordable finance, skills development and a just energy transition.
- A 'Belém-Antalya Action Mechanism': adopting this just-transition framework at COP31, built on fair finance and fair trade.
Why grants
The Prime Minister pointed out that Bangladesh accounts for less than 0.5 percent of global greenhouse gas emissions, yet the country is on the front line of climate impacts. He said climate-related losses are placing a heavy burden on the economy, and debt repayment pressure and limited financial resources are making things harder.
Put simply, a country that did almost nothing to create the problem is having to borrow, with interest, to deal with it, and Bangladesh wants that system changed. Developing-country groups have made the same argument for years; at COP31, Bangladesh turned it into concrete proposals.
What Bangladesh is doing at home
The Prime Minister also outlined the country's own climate measures. According to Bangladesh Post, these include:
- a target of meeting 20 percent of electricity demand from renewable sources by 2030;
- work on developing 4,000 megawatts of solar power with special tax benefits;
- a plan to plant 250 million trees in 5 years;
- excavating 20,000 kilometres of rivers and canals;
- master plans for the Padma Barrage and Teesta Barrage to store water, reduce flood risk and restore groundwater levels;
- restoring mangrove forests on newly formed coastal land;
- waste-to-energy, green industry, electric vehicles, jute bags and a national carbon trading framework.
The Prime Minister said that despite these challenges, the government is working towards a one-trillion-dollar climate-resilient and sustainable economy. He also stressed cutting emissions to keep the 1.5°C warming limit within reach, involving women and young people, and creating green jobs.
Other parts of the visit
The Prime Minister arrived in Antalya on 10 November for a three-day official visit. According to the Daily Observer, he was accompanied by his wife Dr Zubaida Rahman, Foreign Minister Dr Khalilur Rahman, Environment Minister Abdul Awal Mintoo and State Minister for Foreign Affairs Humayun Kabir. On the sidelines he held separate meetings with Uzbekistan's President Shavkat Mirziyoyev and China's Vice President Han Zheng on bilateral ties, climate and investment. He also visited the Bangladesh pavilion in the Green Zone and an exhibition of eco-friendly jute products.
He returned home early on Friday (13 November). After receiving him at the airport, BNP acting secretary general Ruhul Kabir Rizvi told reporters that the Prime Minister had presented Bangladesh's needs and priorities to world leaders.
What comes next
COP31 negotiations continue until 20 November. Turkey is the host, and Australia leads the negotiation process. Climate-vulnerable countries will now watch how far Bangladesh's proposals, especially on adaptation finance and debt relief, make it into the conference's final decisions.
FAQ
What is COP31 and where is it held?
COP31 is the 31st annual conference of the parties to the UN Framework Convention on Climate Change (UNFCCC). This year it is held in Antalya, Turkey, and ends on 20 November.
What did Bangladesh mainly ask for at COP31?
Grants instead of loans, at least half of climate finance for adaptation, debt relief arrangements, fair access to green technology and affordable finance for a faster shift to renewable energy.
What does 'adaptation' mean?
Adaptation means taking steps to cope with the effects of climate change, such as floods, salinity and cyclones. Examples are embankments, shelters, salt-tolerant crops and canal digging.
What is Bangladesh's share of global emissions?
According to the Prime Minister's speech, Bangladesh accounts for less than 0.5 percent of global greenhouse gas emissions, yet it is on the front line of climate risk.