At COP31, prime minister urges five urgent steps: climate-vulnerable countries need grants, not loans

Prime Minister Tarique Rahman has called for five urgent steps at the world climate summit. He also stressed that climate-vulnerable developing countries should be given grants instead of loans.

He made the call on Thursday, 12 November, at the high-level session of the United Nations Climate Change Conference (COP31) in Antalya, Türkiye.

Prime Minister Tarique Rahman said the global climate finance system remains inadequate. It does not properly take into account the needs and priorities of developing countries.

He said climate-related loss and damage is creating a major burden on the economies of vulnerable countries including Bangladesh. At the same time, rising debt payments and limited financial resources are making the situation even harder.

The prime minister said climate-vulnerable countries need grants, not more loans that increase their debt. They also need reliable financial support, access to modern technology, and strong support for adaptation.

Calling on everyone to fulfil their commitments to tackle climate change, the prime minister said: let us turn our commitments into reality, strengthen global solidarity, and build a sustainable future together.

Following the principle of common but differentiated responsibilities and respective capabilities, Tarique Rahman called on world leaders to take five urgent steps.

First, at least 50 percent of international climate finance should be allocated for adaptation based on each country's priorities, while also supporting emissions reduction efforts.

Second, introduce urgent debt-relief facilities for climate-at-risk countries, including climate-resilient debt clauses and debt-for-climate swaps.

Third, ensure fair access to environmentally friendly climate technology and provide necessary support to transfer such technology to developing countries.

Fourth, accelerate the transition to renewable energy through affordable financing, skills development, and a just energy transition.

Fifth, adopt a Belem-Antalya Action Mechanism for a just energy transition at COP31, whose core basis will be fair financing and fair trade.