The announcement for the support came at the 28th session of the Conference of the Parties of the United Nations Framework Convention on Climate Change (UNFCCC), being held between November 30 and December 12 in Dubai, United Arab Emirates(UAE).
Environment, Forest and Climate Change Minister Md Shahab Uddin made the announcement at a press briefing at COP28.
He also emphasised that raising carbon emission reduction commitments for 2030 must be seven times higher to meet the Paris Agreement's 1.5-degree target.
He urged the developed countries to fulfill their $100 billion pledge, calling for the strengthening of the Green Climate Fund (GCF), Least Developed Countries Fund (LDCF), Adaptation Fund (AF), and GEF Trust Fund with ample resources, ensuring swift and easy access.
Speaking at the briefing, the minister expressed Bangladesh's support for a balanced 50:50 allocation between adaptation and mitigation, along with grant-based financing in line with Paris Agreement decisions.
The focus will also be on securing new and additional government funding, he said.
The minister said Bangladesh strongly advocates for doubling adaptation funding and supporting the implementation of the National Adaptation Plans (NAPs), a priority for the 49 countries that have already prepared it and submitted their NAPs to UNFCCC. Mr Uddin said Bangladesh is one of the most climate vulnerable countries in the world.
"Despite the vulnerability, the country won the ''GCA Local Adaptation Champions Award'' in the category of 'Innovation in Devolving Finance', highlighting our commitment to fostering resilience and innovation at the local level," he said.
"The message of the latest scientific reports of IPCC and other UN Bodies are clear - if emissions are not rapidly reduced in this decade, this would raise the risk of dangerous and irreversible impacts on natural and human systems," he added.
Mr Uddin also mentioned that this would expose the most vulnerable countries - like Bangladesh - to unmanageable levels of risk.
The global community still lacks the feeling of urgency and true commitment to implementing the Paris Agreement, he observed.
The ambition of emission reduction pledges for 2030 need to be seven times higher to keep the 1.5 degree goal of the Paris Agreement, said the minister.
Despite being one of the least emitters in the world, Bangladesh has been putting sincere efforts to participate in global mitigation efforts focusing on renewable energy and energy efficiency.
He said in the updated NDC, submitted in 2021, Bangladesh has put forward enhanced emission reduction target which is three times higher than its 2015 INDC commitments.
He said: "But Bangladesh feels disappointed with the progress on agenda items on climate finance."
"The commitment of developed countries to provide US$ 100 billion per year has not been met yet, and we have strong reservations on the methodology of calculation of climate financing", said the minister.
The minister urged the standing committee on finance (SCF) to fix a common definition of climate finance on an urgent basis.
It is also important for the discussion of New Collective Quantified Goal (NCQG) of climate finance, he said. "The quantity and quality of adaptation finance are far from our expectation," said the minister.
Bangladesh firmly emphasises doubling the adaptation fund and support for NAP implementation, which is the priority of 49 countries who have already prepared and submitted their NAPs.
"We are disappointed to see that the progress on both the Mitigation Work Programme, mitigation under Global Stock Take (GST), and the just transition work programme has been significantly insufficient," he said. "The science is clear: we must radically reduce greenhouse gas emission to meet the 1.5" degree Celsius temperature goal with no overshoot", he added. The minister said: "We need concrete political commitments by the major emitters for addressing the emission gap".
Developed countries must lead the way with developing countries following suit in line with their respective abilities.
Under the Glasgow - Sharm El Sheikh Work Programme on Global Goal on Adaptation agenda item, the progress is also very slow. "We are looking forward to adopting a decision on Global Goal on Adaptation emphasising time bound implementable targets for achieving climate resilience," he added.
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