DHAKA, July 7, 2021 (BSS) - The V20 Climate Vulnerables Finance
Summit will be held tomorrow through virtual platform with the
participation of heads of Governments, G20 ministers and international
agencies to bolster the decisive climate actions ahead of the COP26
Glasgow.

   The Summit will be opened by Prime Minister Sheikh Hasina who is
currently the Chair of the Climate Vulnerable Forum (CVF) and will be
attended by the heads of State/Government from the CVF.

   The virtual Summit will feature Heads of State/Government from
Climate Vulnerable Forum member countries including Colombia, Costa
Rica, Ethiopia, and the Marshall Islands; V20 finance ministers from
countries including Afghanistan, Bangladesh, Bhutan, Burkina Faso,
Costa Rica, Dominican Republic, Ghana, Haiti, Ethiopia, Fiji, Grenada,
Honduras, the Maldives, Marshall Islands, the Philippines,
Timor-Leste, and Sri Lanka along with Minister of Foreign Affairs and
Minister of Environment, Forestry and Climate Change of Bangladesh.

   Finance Minister AHM Mustafa Kamal, Chair of V20, while addressing
a virtual press conference today disclosed the details of the Summit
which will be attended by Heads of State/Government, G20 and major
International Financial Institutions, including the Secretary General
of the United Nations.

   The summit scheduled to be held tomorrow from 7.30-9.50 pm is
poised to become one of the most crucial and eminent platforms for
decisive climate action in the lead up to COP26 Glasgow.

   Minister for Environment, Forest and Climate Change, Md. Shahab
Uddin; Special Envoy of CVF Presidency of Bangladesh, Md. Abul Kalam
Azad; Secretary of Economic Relations Division Fatima Yasmin and
Secretary of the Ministry of Environment, Forest and Climate Change,
Md. Mostafa Kamal, also spoke at the virtual press conference.

   Speaking at the press conference, the Finance Minister said, "In
this summit, there will be a high-level roundtable dialogue of the
Ministers of Finance and representatives of Vulnerable Twenty Group
(V20) with key partner Governments from the G7, G20 and international
finance and development partners".

   He said the Summit outcome 'Communique to articulate' will be the
core priorities and initiatives of the V20 member economies following
the G7 Summit and ahead of the G20 Climate & Energy Joint Ministerial
and G20 Summits which represent a key interval on the road to COP26 in
Glasgow.

   Answering to a question, Kamal said climate change is a real threat
to the world community, humanity and human civilization and the
developed countries that are responsible for carbon emission and
climate change would have to come up with their committed support to
the affected countries. "We people (people of Bangladesh) are not
responsible for climate change and global warming,"

   Citing the examples of the Maldives and the city of Jakarta which
are likely to be submerged with the sea level rise with the passage of
time, Kamal said that the coastal districts of Bangladesh are also
under the threat of vulnerabilities.

   "The advanced economies which are responsible for fossil fuel will
have to come up with support to the affected countries.......we've to
mitigate the problem of climate change so that we can lead a better
life and leave a nice planet before our future generation, "he said.

   Replying to another question, the Finance Minister said the Awami
League government is committed for the safety and security of the
country's citizens and the government has been rightly doing this job
since 2010.

   Kamal informed that the government has been spending $2 billion on
average every year since 2010 for climate change adaptation and
mitigation purposes while the allocation in the current budget is
roughly $2.9 billion for climate change mitigation and adaptation.
"Our government is very much active in this regard and we're taking
care of the issue,"

   When asked who are actually responsible for carbon emission and
what steps are being taken against them, he said the rich or the
developed countries are responsible for carbon emission as those
countries use fossil fuel adding that public opinion is being formed
against the large emitters.

   The Finance Minister hoped that the global leaders would find out a
way on how to save this planet and thus award a nice world before the
future generation.

   Replying to another question about the government's move to scrap
10 coal-fired power plant projects, he said that the government is
going with the Rooppur Nuclear Power Plant since it is fossil fuel
free.

   He opined that Bangladesh could not go for large-scale solar power
production since it does not have enough land. "Our government is
pursuing a correct policy." Kamal added.

   Minister for Environment, Forest and Climate Change Md Shahab Uddin
said that Bangladesh is one of the most vulnerable countries due to
climate change while the developed countries that are responsible for
carbon emission would have to come forward with support to the
affected countries.

   "All these issues will be raised strongly at the Climate Vulnerable
Forum (CVF)," he added.

   Abul Kamal Azad said that demands would be raised for realizing
$500 billion commitments of support from the developed countries to
the affected developing countries due to climate change.

   Replying to a question, he said that the global environment
organizations do various studies to ascertain the actual loss of a
country due to climate change while Bangladesh needs to advocate for
such types of studies.

   Azad informed that the government has decided to launch a programme
to develop national "Mujib Climate Prosperity Plan" to help mobilize
resources for implementation of a new pathway to secure the future of
people.

   Formed in 2015, the V20 Group of Finance Ministers is a dedicated
cooperation initiative of economies systematically vulnerable to
climate change. It is currently chaired by Bangladesh. At present, the
V20 membership extends to 48 countries.

   The V20 represents economies of a collective 1.2 billion people
with some of the consistently highest growth rates in the world yet
facing existential threats from growing perils of climate change.

   Collectively, V20 countries seek a transformational approach to
global economic activities anchored in keeping global warming to below
1.5 degree Celsius while simultaneously maintaining the growth
trajectory of the world economy.

   In close cooperation with the United Nations, International
Financial Institutions and key development partners, the noteworthy
dialogue will shape globally cooperative responses on a global
magnitude, in order to ensure fast-tracked efforts in building
resilience.

   Partners represented by at least 25 Finance Ministers, UN Secretary
General, Heads of State/Government from Ethiopia, Costa Rica, Colombia
and the Marshall Islands, United States Special Presidential Envoy for
Climate, World Bank (WB) President, Asian Development Bank (ADB)
President, Asian Infrastructure Investment Bank (AIIB) President,
European Investment Bank (EIB) President, Global Environment Facility
(GEF) CEO, Green Climate Fund (GCF) Executive Director, International
Renewable Energy Agency Executive Director, United Nation University's
Institute for Environment and Human Security, United Nations
Environment Program (UNEP), Insurance Development Forum, and other
stakeholders will constitute the parties in attendance at the summit.