Dhaka,19 December 2022:  Development partners should strongly and decisively support the climate change related action and ambitions of the world’s Least Developed Countries (LDCs)– experts said at a workshop in the capital today.

In this context, they said that the developed countries should deliver on the $100 billion finance per annum that they had promised to provide to the countries hit by climate change.

Such observations came during a workshop on ‘UNCTAD LDC Report 2022: Implications for Bangladesh’ organized by Support to Sustainable Graduation Project (SSGP) of Economic Relations Division (ERD) in the capital today.

Hon’ble State Minister of the Ministry of Planning Dr. Shamsul Alam was the chief guest of the workshop. UN Resident Coordinator in Bangladesh Ms. Ms. Gwyn Lewis attended the workshop as the Guest of Honor. ERD Secretary Ms. Sharifa Khan chaired the workshop.

It is notable that United Nations Conference on Trade and Development (UNCTAD) annually publishes a report on issues pertaining to the world’s Least Developed Countries (LDCs). This annual report provides a comprehensive and authoritative source of socio-economic analysis and data on the LDCs.

This year’s UNCTAD LDC report, which was published on 03 November 2022, had been themed on ‘The low-carbon transition and its daunting implications for structural transformation’.

The report noted that although least developed countries (LDCs) had barely contributed to climate change, they are on the front lines of the climate crisis.

The report also observed that although LDCs had set ambitious emission-reduction targets for themselves, international support for adaptation and sustainable development of LDCs had so far fallen remarkably short of what is needed, both in terms of climate finance and access to environmentally-sound technologies.

In this context, the workshop was organized to discuss and analyse the significance of the theme and findings of this year’s UNCTAD report in the context of Bangladesh.

Speaking on the occasion, Hon’ble State Minister of the Ministry of Planning Dr. Shamsul Alam said that Bangladesh continues to seek a 50-50 distribution between adaptation and mitigation from international climate financing.

He also asked the partners from international public and private sector to join in Bangladesh’s climate change related efforts in the spirit of the Paris Agreement.

ERD Secretary Ms. Sharifa Khan, in her keynote presentation, identified inadequate and complex financing mechanism as one of the major challenges towards Bangladesh’s green transition.

‘Bangladesh spends over US$1 billion while receiving only US$ 417 million from the Green Climate Fund’ she informed.

Noting that transition to climate resilient technology is costly, she pointed out that the development partners are more interested in financing mitigation measures while providing less attention to adaptation.

UN Resident Coordinator in Bangladesh Ms. Ms. Gwyn Lewis, in her remarks, said ‘While emission reduction cannot be the primary goal of LDCs including Bangladesh, the country can and should reap every co-benefit of developing its economy along a low carbon pathway’.

Additional Secretary of the Ministry of Environment, Forest and Climate Change Mr. Iqbal Abdullah Harun, Executive Director of the Policy Research Institute Dr. Ahsan H. Mansur, Chief of the LDC Section of UNCTAD Dr. Rolf Traeger and Director of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Mr. Asif Ashraf also spoke during the event.

Speakers at the seminar called for simplifying the access to climate financing as well as cheaper access to relevant technologies.

Mr. Farid Aziz, Additional Secretary of ERD and Project Director of SSGP delivered the welcome address of the event.

Stakeholders from public and private sectors as well as research organizations participated in the workshop.