Bangladesh seeks climate finance to boost renewable energy investment

Bangladesh has called for increased international climate finance to expand renewable energy and strengthen its resilience to climate change, saying predictable financial support and technology transfer are essential to achieving its emissions-reduction targets.

Environment, Forest and Climate Change Minister Abdul Awal Mintoo made the call while presenting Bangladesh's position at a press conference of the country's delegation at the COP31 climate summit in Antalya, Türkiye, on Friday.

State Minister for Environment, Forest and Climate Change Faridul Islam, State Minister for Foreign Affairs Shama Obaed, Additional Secretary of the Environment Ministry Navid Shafiullah and MP Monsura Islam were also present.

According to the written statement presented by Mintoo, Bangladesh's Nationally Determined Contribution (NDC) 3.0 sets a target of reducing greenhouse gas emissions by 6.39% below the business-as-usual (BAU) level by 2035 using domestic resources.

The country has also committed to an additional 13.92% reduction, conditional on receiving international financial and technological support.

Although Bangladesh accounts for less than 0.5% of global greenhouse gas emissions, it remains highly vulnerable to climate-related disasters, including cyclones, floods, salinity intrusion and heatwaves, the statement said.

Against this backdrop, Bangladesh is seeking easier access to international climate finance to increase investment in renewable energy and address the growing costs of climate adaptation.

Meanwhile, Bangladesh could receive up to $30 million under the first phase of a new programme of the Climate Investment Funds (CIF), according to information shared at the press conference.

The funding is expected to come through the CIF's new programme, Accelerating Resilience Investments and Strengthening Economies (ARISE).

In a message issued on Saturday, Saimum Parvez, special assistant to the prime minister on environment, forest and climate change, said the funding would primarily benefit coastal communities.

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The money would help strengthen coastal protection systems, restore mangrove forests and improve the livelihoods and adaptive capacity of vulnerable communities, he said.

He described the prospective funding as an important step towards securing Bangladesh's fair share of international climate finance as a climate-vulnerable country.

The CIF provides financing to developing countries for climate-related investments, while the ARISE programme aims to strengthen resilience through investment.

The Bangladesh delegation also highlighted the urgency of climate action, citing the World Meteorological Organization's 2026 climate update, which estimated that global temperatures from January to September were around 1.47 degrees Celsius above pre-industrial levels.

The delegation said the first four days of formal negotiations at COP31 had concluded, with discussions entering their fifth day on Friday. Although negotiations were progressing on several key issues, a number of critical matters remained unresolved and no final decisions had been reached.

Bangladesh said it wanted the negotiations to deliver concrete decisions and practical support for countries on the frontlines of the climate crisis.

Expanding renewable energy, particularly rooftop solar, is among the country's priorities. However, meeting its emissions-reduction commitments and strengthening energy security will require increased investment, technology transfer and predictable international climate finance, the delegation said.