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

“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 said.

The minister was speaking at the first Copenhagen Climate Ministerial Meeting held at Eigtveds Pakhus in Copenhagen, Denmark, according to a message received in Dhaka.

Shahab Uddin said the developed countries must keep their commitments of mobilizing $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 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 said parties must reach a consensus on several critical issues regarding the ‘Mitigation Work Programme’ to reduce global greenhouse gas (GHG) emissions by 43 percent by 2030 aiming to keep 1.5 degrees 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 view-exchange meeting with the Bangladeshi community held at the Bangladesh Embassy in Denmark with AKM Shahidul Karim, Ambassador of Bangladesh to Denmark, in the chair.