PM presses for climate finance, adaptation and Loss and Damage Fund at WEF summit

Prime Minister Tarique Rahman today (23 June) called upon the international community to prioritise three issues - perationalising the Loss and Damage Fund, making climate finance more accessible and adaptation alongside mitigation - to offset the adverse impacts of climate changes.

"Climate resilience cannot be built by any country alone. It requires partnership, technology, finance, and shared commitment. As we look ahead to COP31 and COP32, we wish to emphasise three priorities," he said.

The prime minister made the call while addressing a session of the 17th annual meeting of the New Champions of the World Economic Forum (WEF), also known as Summer Davos, at Dalian in China.

The session titled "Climate Leadership in a Shifting Global Landscape" was held at Dalian International Conference Centre.

Raising the three priorities, Tarique Rahman said, "First, the Loss and Damage Fund must move from promise to delivery, with accessible and predictable support for victim nations."

"Second, climate finance must become more accessible, concessional, and responsive to the needs of vulnerable countries. It should also accelerate technology transfer and private-sector investment. In this regard, we need greater mobilisation and operationalization of the Green Climate Fund (GCF)," he added.

"Third, adaptation must stand alongside mitigation. For countries like Bangladesh, adaptation is not a policy option, it is a necessity," the prime minister said, adding that the New Collective Quantified Goal (NCQG) of $300 billon falls short in meeting the mitigation and adaptation requirements for the developing countries as pointed out by UNCTAD.

He noted that leaders around the world must set aside their differences and deliver on their climate commitments for the millions whose lives are at stake.

"COP31 should reaffirm the goals and spirit of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement," he said, adding that the World Economic Forum provides a valuable platform to foster dialogue, build consensus, and encourage collective action in this regard.

"It is time to turn climate pledges into actions, and commitments into results, so that the world can embrace the future with confidence," Tarique Rahman said, expressing hope that COP31 will rise to this challenge, and pledging that Bangladesh stands ready to play its part.

He said Bangladesh believes climate action is not a cost. "We see this as a much-needed investment for prosperity, stability, and shared future. Together we all here can build a future that is greener, safer, more sustainable, and more just."

The prime minister is visiting China at the invitation of Chinese Premier Li Qiang.

This evening, the prime minister will attend a reception hosted by Chinese Premier Li Qiang.

On 24 June, Prime Minister Tarique Rahman is scheduled to hold a meeting with the Prime Minister of Kazakhstan in the morning. After taking part in additional engagements, he will depart Dalian for Beijing by train in the afternoon.

He will later travel to Beijing, where the main programmes of his official visit to China will take place.

The prime minister is scheduled to hold bilateral meetings with Chinese leaders. He will meet Chinese Premier Li Qiang on June 25 and Chinese President Xi Jinping on June 26.

The prime minister flied to China from Kuala Lumpur after wrapping up his two-day official visit to Malaysia, his maiden overseas tour as the head of government. 

He is expected to return home on the night of June 26, wrapping up his first official overseas tour since taking office.