Bangladesh set to highlight $15.2bn annual climate loss at COP31
Bangladesh will demand an expansion of the global Loss and Damage Fund at the COP31 summit, citing an estimated annual economic loss of $15.2 billion driven by climate change.
Environment Minister Abdul Awal Mintoo said Dhaka would not advocate solely for its own allocation, but would also push to scale up overall financing for all climate-vulnerable nations.
He outlined Bangladesh's preparations and key priorities during a media briefing at the Secretariat on Thursday.
Asked about the precise figure Bangladesh plans to request from the Loss and Damage Fund, the minister said: "Negotiations do not work around a single pre-set compensation sum.
"These talks take place through negotiating blocs, focusing on shared policy frameworks rather than individual national totals. We cannot name a specific figure because that is not how these sessions operate."
He affirmed that Bangladesh will demand increased resources to address the adverse impacts of climate change, while campaigning for an expanded overall facility for frontline nations.
"Once the overall fund is enlarged, vulnerable countries like ours can apply, and disbursements will follow," Mintoo said.
He added, "Recent reports highlight that Bangladesh faces an annual economic loss of $15.2 billion due to climate impacts.
“Grounded in this World Bank assessment, we will formally present that $15.2 billion yearly toll to back our call for loss and damage compensation."
Prime Minister Tarique Rahman will fly to Turkey on Nov 10 to attend the summit, according to the minister.
"His segment runs from Nov 10 until the afternoon of the 12th, after which he will return home," Mintoo said.
The United Nations climate change summit COP31 is scheduled to take place in Turkey’s Antalya from Nov 9 to 20.
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