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COP26 president-designate for creating $100b fund to support climate vulnerable countries

FE Online Report | Wednesday, 2 June 2021


Visiting COP 26 President-Designate Alok Sharma on Wednesday urged the rich countries to expedite creation of the annual 100 billion dollar climate fund so that climate vulnerable countries like Bangladesh can get benefit from it.

He also urged all countries to fulfill their commitments to limit global temperature rise to 1.5 degree

“I have urged the rich countries to fulfill their pledges to create the 100 billion US dollar annual climate fund so that we can support the climate vulnerable countries,” Mr Sharma said.

He hoped that in the upcoming COP 26 summit in Glasgow the global community will pledge to reach the 1.5 degree temperature target.

He said that abandoning the coal-based power projects was a priority for him and he had already called upon all concerned countries to do the needful.

Responding to a question Mr Sharma said that preserving the Sundarban was crucial to echo logical balance and Prime Minister Sheikh Hasina told him during their meeting in the morning that the government took all out measures to protect this unique mangrove forest.

He mentioned that the climate fund would also be contributed by the private sector and many companies have shown interest in this regard.

Foreign Minister Dr AKAbdul Momen told the briefing that Bangladesh has committed to reduce its dependency on coal power.

We will gradually switch to renewable energy and in this case the rich countries may help us through investment and technology transfer, he added.

The minister also sought development partners’ support to reconstruct coastal embankments in Bangladesh.

Foreign Minister Dr AKAbdul Momen told the briefing that Bangladesh has committed to reduce its dependency on coal power.

We will gradually switch to renewable energy and in this case the rich countries may help us through investment and technology transfer, he added.

Mr Sharma arrived in Dhaka on Wednesday morning on a two-day visit to strengthen support for UK COP26 climate priorities ahead of hosting the crucial UN climate change summit in Glasgow this November.

State Minister for Foreign Affairs Md Shahriar Alam received Sharma at the Hazrat Shahjalal International Airport (HSIA) at around 9:20am upon his arrival.

He had a meeting with Foreign Minister Dr AK Abdul Momen at 12:30pm at the Foreign Service Academy.

Before that, Sharma met Prime Minister Sheikh Hasina at her official Ganabhaban residence at 11:30am.

He attended the "UK-Bangladesh Climate Partnership Roundtable" at 2:00pm at Foreign Service Academy before holding the joint briefing in the afternoon.

Mr Sharma is scheduled to visit the Sundarbans on Thursday.

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