Bangladesh demands grants, debt relief for climate-vulnerable nations at COP31

Bangladesh Prime Minister Tarique Rahman has called on wealthy nations to provide grants rather than additional loans to climate-vulnerable countries, demanding debt relief, technology transfers and greater financial support to help developing economies tackle climate change.

"Climate-vulnerable countries need grants, not more loans that increase their debt burden," Rahman said in an address to the UN climate conference, COP31, in Antalya, Turkey.

Bangladesh, one of the countries on the frontline of climate change despite contributing less than 0.5 percent of global greenhouse gas emissions, is facing mounting economic pressure from climate-related losses, rising debt repayments and limited financial resources, he said.

Rahman urged the international community to follow the principle of "common but differentiated responsibilities and respective capabilities" and outlined five priority measures to strengthen climate action in developing countries.

He called for at least 50 percent of international climate finance to be allocated to adaptation based on individual countries' priorities, alongside continued support for emissions reduction.

He also urged the introduction of emergency debt-relief mechanisms, including climate-resilient debt clauses and debt-for-climate swaps, to ease the financial burden on vulnerable nations.

Other priorities include equitable access to environmentally friendly technologies, accelerated renewable energy adoption through affordable financing and skills development, and a just energy transition.

Rahman also proposed adopting a "Belém-Antalya Action Mechanism" at COP31 to promote a just energy transition based on fair financing and trade.

Despite the challenges, Bangladesh is committed to building a climate-resilient and sustainable economy worth $1 trillion, the prime minister said, arguing that economic growth and environmental protection must go hand in hand.

The government has set a target of meeting 20 percent of the country's electricity demand from renewable sources by 2030, in line with its efforts to achieve net-zero emissions under the Paris Agreement.

It is also working to develop 4,000 megawatts of solar power capacity through special tax incentives while promoting waste-to-energy initiatives, he said.

Bangladesh is encouraging green industrialisation, with nearly 300 Leadership in Energy and Environmental Design (LEED)-certified garment factories, while promoting electric vehicles, environmentally friendly transport and products such as jute bags.

The government is also developing a national framework for carbon trading.

Rahman said Bangladesh planned to plant 250 million trees over the next five years and was undertaking the excavation of 20,000 kilometres of rivers and canals to improve water retention, reduce flood risks, restore wetlands and replenish groundwater.

The government is also pursuing the Padma Barrage and Teesta Barrage master plans and restoring mangrove forests on reclaimed coastal land to protect communities and strengthen climate resilience.

He stressed the importance of ensuring the participation of women and young people in climate action, creating decent green jobs and reducing global emissions to keep the 1.5-degree Celsius temperature target within reach.

Rahman thanked Turkey for hosting COP31 and Australia for leading the negotiation process, expressing hope that the conference would deliver meaningful, balanced and ambitious outcomes, particularly for countries most vulnerable to climate change.

"Let us turn our commitments into action, strengthen global solidarity and build a sustainable future together," he said.