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Hasan for forging global financing system to tackle climate effects

Published : 03 Dec 2023 05:32 PM | Updated : 03 Dec 2023 05:32 PM

Information and Broadcasting Minister Dr Hasan Mahmud on Saturday urged the global community to formulate an international integrated universal financing system to face the rising climate effects. 

 The minister, who is also Head of Bangladesh delegation in the COP28 high level segment, made the call at a high level sideline discussion titled 'Rising with the Tide: Tracking Reforms in International Financial Architecture for Accelerated Development-Positive Climate Action' in Dubai.

 Climate Vulnerable Forum (CVF) incoming chairman and Barbados Prime Minister Mia Mottley, Sri Lanka President Ranil Wickremesinghe, former CVF Thematic Ambassador SaimaWazed and first Secretary-General of CVF-V20 Mohamed Nasheed, among others, addressed the event with CVF-V20 current Chair and President of Ghana Nana Akufo-Addo in the chair, said a release received here.

 The President of Ghana appreciated Bangladesh's leadership during Prime Minister Sheikh Hasina's two terms of CVF-V20 Chairmanship in advocating and advancing the causes of climate vulnerable countries and climate justice.

 Speaking at the event, Dr Hasan called for revisiting the international financial system and making it inclusive, flexible, and easily accessible for the climate vulnerable countries and the global south.

 The minister highlighted Prime Minister Sheikh Hasina's leadership during Bangladesh's two terms' Presidency of CVF-V20 that successfully shifted the narrative from Climate Vulnerability to resilience and prosperity. 

 He mentioned about the creation of CVF-V20 Joint Multi Donor Fund and formulation of "Mujib Climate Prosperity Plan" during Bangladesh's tenure. Under the plan, the country's financing needs exceed USD 8.5 billion each year.

Later, the information minister participated at COP28 Presidency roundtable on "Accelerating Water and Climate Action".