June 18, 2021

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Bangladesh has become the first least developed country to set up a ‘Climate Change Trust Fund’

Prime Minister Sheikh Hasina has called upon the leaders attending the P4G Summit to work more closely for a better future for the next generation. At the same time, he gave three suggestions to P4G (Partnership for Green Growth and the Global Goals 2030), including involving more investors, policy makers and creative entrepreneurs in key areas including food, water and energy. He said Bangladesh is the first least developed country to set up a ‘Climate Change Trust Fund’ with its own resources.

The Prime Minister made the suggestion in a video message recorded earlier at the P4G Suez Conference here on Sunday afternoon.

The two-day P4G conference is being held in Seoul, the capital of South Korea, under the theme ‘Inclusive Green Recovery Towards Carbon Neutrality’.

In the first of the three consultations, Prime Minister Sheikh Hasina said the five key areas of P4G – food, water, energy, urban and circular economy – need to be more publicized and share best practices to engage more financiers, investors, policy makers and creative entrepreneurs. .  

Sheikh Hasina’s second suggestion for achieving green growth and the 2030 global goal is to achieve this goal, which requires a global approach along with the overall approach of the society.

In the third consultation, Sheikh Hasina called upon all to work in unity and said that the leaders participating in the P4G summit need to work more intensively for a better future for the next generation.

The Prime Minister also mentioned the need to increase the local adaptation activities of Bangladesh to address the adverse effects of climate change.

Referring to water as a very valuable resource of Bangladesh, Sheikh Hasina said, “We are implementing ‘Delta Plan’, a 100-year sustainable development plan for proper use and conservation of water.”

Mentioning that Bangladesh is the first least developed country to set up a ‘Climate Change Trust Fund’ with its own resources, the Prime Minister said, “We are spending ৫ 5 million every year on adaptation and mitigation measures for climate change.”

Sheikh Hasina said Bangladesh, a member of the P4G, is pursuing a ‘low carbon development approach’. “Our National Solar Energy Action Plan 2021-41 estimates that our renewable energy production will reach 40 gigawatts in 2041,” she said.

The P4G Global Initiative was launched in 2016 to implement the Global Climate Change and Sustainable Development Goals.

The P4G network has 12 countries – Bangladesh, Chile, Colombia, Denmark, Ethiopia, Indonesia, Kenya, Republic of Korea, Mexico, Netherlands, South Africa and Vietnam. In addition, WRI, WAF, IFC, GGGI and C40 organizations are with this network