Developed countries must fulfill their commitment to meet the hundred-billion-dollar climate finance goal to the vulnerable countries, including Bangladesh. A victim of climate change, Bangladesh is likely to incur losses worth US$ 2.2 billion on average per year. The upcoming conference of the parties (COP26) is important for Bangladesh along with other climate vulnerable countries to raise their voices. The climate vulnerable countries have specific agenda that reflect their interests. These countries would try to ensure commitments of major carbon emitting countries to limit emissions, and scale up climate funds. There is a global call for saying no to any new coal-fired power plants and to join “Powering Past Coal Alliance”.
The COP26 of the United Nations Framework Convention on Climate Change will be held from October 31 to November 12 in Scotland’s Glasgow, UK. The outcome of the conference is critically important for climate vulnerable countries like Bangladesh. Most of the money to combat climate change has so far come in the form of loans; only 20 per cent has been in the form of grants. Bangladesh is already in a climate emergency, characterised by more frequent and severe heat waves, heavy rainfall, flood and drought. As the current Climate Vulnerable Forum (CVF) president, Bangladesh should call for a “Climate Emergency Pact” at the COP26 summit for rebuilding the confidence in international climate cooperation.
It is expected that the Prime Minister of Bangladesh, who is to head the delegate in the COP26, would consider placing Bangladesh’s energy transition plan, particularly in case of phasing out of coal-based power plants. For this, Bangladesh may seek financial and technical support for the early retirement of coal-based power plants. Currently, many coal-based power plants are under construction in the country.
