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

Prime Minister Tarique Rahman on Tuesday called upon the international community to prioritise three issues – operationalising the Loss and Damage Fund, making climate finance more accessible and adaptation alongside mitigation – to offset the adverse impacts of climate change.

“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.

The session titled “Climate Leadership in a Shifting Global Landscape” was held at Dalian International Conference Centre at 5:30pm local time.

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 operationalisation 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 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.”

Tarique Rahman said they are here today, not only as a frontline state in climate crisis, but also as a nation with aspirations to provide global solutions. “We refuse to be defined by our struggle, rather we choose to be defined by our resilience.”

Referring to BNP’s election manifesto, he said Bangladesh is committed to becoming a leading climate-resilient nation. “Environmental protection, sustainable development, and green growth are now at the heart of our nation-building strategy. Personally, this is also a cause I deeply care about and push for. It is about protecting lives, livelihoods, and future generations.”

The Prime Minister said his government aims to excavate around 20,000 kilometres of rivers and canals over the next five years to restore water flow, reduce flood risks, and revive wetlands. “We are advancing the initiative of Padma Barrage on our principal river to ensure water security, support agriculture, and address climate shocks. We are also modernising the Teesta Barrage in the northern part of Bangladesh through a comprehensive master plan.”

He also mentioned that the government is committed to planting and maintaining 25 crore trees over the next five years. “Through a nationwide movement involving schools, communities, and young people such as the ‘one student, one tree programme’ we will expand forest coverage, restore biodiversity, create green jobs, and reduce temperature.”

Tarique Rahman said the government of Bangladesh is protecting forests, wetlands, wildlife habitats, and vulnerable coastal ecosystems. “We are investing in rainwater reservoirs in rural areas and introducing greener building standards.”

At the same time, the government has set a target to generate at least 20% of Bangladesh’s electricity from renewable sources by 2030 through solar, wind, waste-to-energy, and other solutions, he said.

The Prime Minister said they also encourage green industries such as jute products and eco-friendly transports, including electric vehicles. “A national carbon market will be developed to unlock green investment and carbon-credit opportunities.”

He said Bangladesh is also planning to transform waste into resources through integrated waste management, recycling, organic fertiliser production, and circular economy initiatives. “We have already made great strides in ensuring green manufacturing. Now we can proudly say that among the top 100 LEED-certified factories in the world, 69 are from Bangladesh.”

Tarique Rahman 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,” he said, expressing hope that COP31 will rise to this challenge, and pledging that Bangladesh stands ready to play its part.

Earlier, WEF President and Chief Executive Officer (CEO) Alois Zwinggi paid a courtesy call on the Prime Minister and welcomed him at the venue.

This year’s event, themed “Innovating at Scale,” focuses on key global issues, including the global economy, shifting industrial structures, the practical application of artificial intelligence (AI) and emerging technologies, China’s economic future, youth employment, and climate change.

Bridging the gap between rapid technological advancement and its broader economic benefits remains one of the central topics of discussion of the conference.

Over 1,700 government representatives, policymakers, business leaders and technology entrepreneurs from over 90 countries are participating in the event.

The Prime Minister is on a four-day official visit to China at the invitation of Chinese Premier Li Qiang. He is scheduled to attend a reception hosted by the Chinese Premier this evening.

On June 24, 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.

In Beijing, 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.

China is the second country Tarique Rahma is visiting as the head of the government since taking office.

He flied to Dalian from Kula Lumpur on Monday after wrapping a two-day official visit to Malaysia, his first official overseas tour since taking office.

Tarique Rahman is expected to return home on the night of June 26.