Bangladesh requires US$ 373 billion to implement its National Adaptation Plan (NAP) in the next 27 years, with US$ 8.5 billion per year as new and additional finance, said Environment, Forest and Climate Change Minister Md. Shahab Uddin on Monday.

“For the full implementation of the (Nationally determined contributions) NDC targets of Bangladesh, it needs US$ 143 billion from international support ... we need to ensure easy and quick access to climate finance as well,” he told the first Copenhagen Climate Ministerial Meeting, held at Eigtveds Pakhus in Copenhagen, Denmark, according to a message received.

Shahab Uddin said the developed countries must keep their commitments of mobilising US$ 100 billion annually from this year to support actions to tackle climate change in the most vulnerable countries with an equal balance between adaptation and mitigation.

The most vulnerable developing countries urgently require new, predictable, and adequate grant-based public financing for adaptation beyond voluntary donor assistance, he said.

The minister further said the financial mechanism must be settled for the effective implementation of the NAP.

He urged the developed countries to double adaptation finance to support developing countries in their efforts to cope with the adverse impacts of climate change.

In line with the position of the LDC group, he said, Bangladesh expects a more proactive role from the developed countries to ensure the ambitious contribution of climate finance towards grant-based adaptation support to the most climate-vulnerable countries.

Shahab Uddin also said parties must reach consensus on several critical issues regarding the ‘Mitigation Work Programme’ to reduce global greenhouse gas (GHG) emissions by 43 per cent by 2030 aiming to keep 1.5 degree Celsius within reach.

The Mitigation Work Programme should facilitate creating enabling conditions for the effective implementation of mitigation actions in the most vulnerable developing countries through the mobilisation of adequate financial resources, technology transfer and capacity building, he said.

Earlier, the minister joined a meeting to exchange views with the Bangladeshi community in the Bangladesh Embassy in Denmark with AKM Shahidul Karim, ambassador of Bangladesh to Denmark, in the chair.